RNS Number:6605R
Urals Energy Public Company Limited
23 September 2005


              Urals Energy Public Company Limited ("Urals Energy")

                     Appointment of Non-Executive Director

Viatcheslav Rovneiko, Chairman, and the Board of Urals Energy, a leading
independent exploration and production company with operations in Sakhalin
Island, Timan Pechora and the Republic of Udmurtia, Russia, which listed on AIM
in August 2005, announce the appointment of Mr Charles Pitman as a Non-Executive
Director.

Mr Pitman, 63, a former lawyer and diplomat with the US Department of State, has
extensive experience in the oil and gas industry, including 24 years at Amoco
Corporation and BP plc. During this time he held a number of senior positions
including managing operations in Egypt, Oman, Qatar and the former Soviet Union.
Following Amoco's merger with BP he was Regional President, Caspian/Middle East/
Egypt and India.

In 2000, Mr Pitman was elected to the Board of Apache Corporation. He is also
owner of Shaker Mountain Energy Associates, LLC, a consulting firm.

Viatcheslav Rovneiko, Chairman of Urals Energy commented:

"We are delighted that Charles has agreed to become our Non-Executive Director.
He has invaluable experience in the worldwide oil and gas industry and within
the Company's areas of operations. We look forward to him sharing his extensive
knowledge and experience to help develop Urals Energy into the leading
independent oil company in Russia and the CIS.

Charles Pitman, Non-Executive Director of Urals Energy commented:

"Urals Energy has the key fundamentals in place to become the leading oil
independent in Russia; a highly experienced management team, high quality proved
and probable reserves, solid production and significant exploration upside. I
look forward to working with the Board to achieve its ambitious plans for
growth."

-ends-

Enquiries:


Pelham PR
James Henderson                                                  020 7743 6673
Charles Vivian                                                   020 7743 6672


Mr Pitman, holds or has held directorships in the five years preceding his
appointment at Urals Energy, as follows:

Current Directorships                                Previous Directorships
Apache Corporation                                   N/A

There are no other matters to be disclosed in relation to Schedule 2 paragraph
(g) of the AIM Rules.

About the company:

Urals Energy is an independent exploration and production (E&P) company with its
principal assets and operations in Sakhalin Island, Timan Pechora (including
areas in the Nenets Autonomous Okrug and Komi Republic) and the Republic of
Udmurtia, Russia.

The Company is focused on the integration of its five recently acquired
subsidiaries and the exploitation of their assets. In addition, it is actively
seeking to continue to grow and diversify its reserve and production portfolio
through exploration activities and the acquisition of additional E&P companies
or assets by taking advantage of the ongoing rationalisation of E&P assets in
Russia.

The Company's five E&P subsidiaries have Proved and Probable reserves of 89.7
million barrels of oil equivalent (MMBOE) and produced approximately 5,600
barrels of oil per day (BOPD) during the first six months of 2005.

The Company's two largest subsidiaries by reserves and production, Petrosakh and
Arcticneft, own and operate refining assets with a total refining capacity of
5,300 BOPD, which provide the Company with the ability to maximise the value of
the oil produced by choosing between the sale of oil or of refined products
depending on market conditions, tax considerations and other factors.


                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

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