Sibir Energy plc notes press reports at the weekend of a possible asset transaction with Royal Dutch Shell (“Shell”), Sibir’s joint venture partner in Salym Petroleum Development (“SPD”).
As SPD shareholders, Sibir and Shell maintain a close working relationship. Sibir is considering all opportunities that would allow it to expand its business in Russia. Sibir discusses various opportunities with different companies on a regular basis and Shell is one of them.
If appropriate, further announcements will be made in due course.
