Awarding of Restricted Stock

RNS Number:5358Z
Urals Energy Public Company Limited
09 March 2006



     Urals Energy Public Company Limited ('Urals Energy' or the 'Company')
   Petrosakh Exploration Drilling and Operational Update and Corporate Update

          Awards of Restricted Stock to Senior Managers and Directors

Urals Energy announces that on 7 February 2006, the Remuneration Committee
confirmed awards of restricted stock to certain senior managers and directors of
the Company and its subsidiaries, as detailed in the table below:


Director                                                No. of Shares
Viatchislav V. Rovneiko                                 252,340
William R. Thomas                                       229,185
Leonid Y. Dyachenko                                     211,110
Gueorgui N. Ramzaitsev                                  37,530
Charles J. Pitman                                       37,530



In addition, a total of 794,030 shares have been awarded to six key officers of
the Company.



The awards of stock are fully restricted at the outset so that no recipient'
shares are vested until the earliest of January 1, 2007, assuming the person is
still associated with the Company, and thereafter the vesting periods vary but
generally are spread over three years.



The awards were made pursuant to the authority granted to the Remuneration
Committee and in line with the stated intention to grant no more than 5% of the
total outstanding shares of the Company pursuant to an incentive programme to be
adopted by the Directors and the Remuneration Committee.



                                                                    9 March 2006


Pelham PR
James Henderson                                     020 7743 6673
Gavin Davis                                         020 7743 6677






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