Drilling Update (1321E)

TIDMUEN

RNS Number : 1321E

Urals Energy Public Company Limited

01 April 2011

1 April 2011

Urals Energy Public Company Limited

('Urals Energy' or the 'Company')

Drilling Update

Urals Energy, the independent exploration and production company with operations in Russia, today announces that Well #51 on the Petrosakh field has been successfully spudded.

As part of the Company's updated drilling strategy to capture the full potential of the Petrosakh field, Well #51 is a large diameter vertical well designed to maximise flow rates.

The Directors expect production to begin before the end of May and further announcements will be made at the appropriate time.

Enquiries:

 
 Urals Energy Public Company Limited    +7 495 795 03 00 
-------------------------------------  -------------------- 
 Alexei Maximov 
-------------------------------------  -------------------- 
 Grigory Kazakov 
-------------------------------------  -------------------- 
 Allenby Capital Limited                +44 (0)20 3328 5656 
-------------------------------------  -------------------- 
 Nick Naylor 
  Alex Price 
-------------------------------------  -------------------- 
 
 Pelham Bell Pottinger                  +44 (0)20 7861 3232 
-------------------------------------  -------------------- 
 Mark Antelme 
-------------------------------------  -------------------- 
 Jenny Renton 
-------------------------------------  --------------------

This information is provided by RNS

The company news service from the London Stock Exchange

END

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