Urals Energy Public Company Limited (LON:UEN)

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Urals Energy Public Company Limited (Urals Energy), along with its subsidiaries, is primarily engaged in oil and gas exploration and production in the Russian Federation, and processing of crude oil for distribution on both the Russian and international markets. The Company’s year on year oil production decreased by 6% from 3.4 million barrels, during the year ended December 31, 2006, to 3.2 million barrels, during the year ended December 31, 2007, with average daily production decreasing from 9,194 barrels per day, during 2006, to 8,859 during 2007. Some of its wholly owned subsidiaries include ZAO Arcticneft, OOO CNPSEI, ZAO Chepetskoye NGDU, OOO Michayuneft and OOO Oil Company Dulisma. In November 2007, Urals Energy acquired an interest in the SRB field (Taas) in East Siberia.

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