SBE Sibir Energy

 

TIDMSBE 
 
RNS Number : 7338S 
Sibir Energy PLC 
22 May 2009 
 
SIBIR ENERGY PLC ("Sibir" or the "Company") 
 
 
MARKET UPDATE 
 
 
The Board of Sibir announces that it has received the following security from Mr 
Chalva Tchigirinski and his related interests in respect of the amounts owed to 
the Company and that it is negotiating to obtain further security from him as 
soon as possible: 
 
 
1.    The Company has received a charge over the shares of the company which 
owns Villa Marina Irina, Roquebourne, Cap Martin France and has the right to 
take a charge over the Villa itself should it choose to do so. 
 
 
2.    The Company has received an assignment of the proceeds of any future sale 
of Hugh House, 7A Eaton Square, London SW1W 9DA and has the right to take a 
second charge over the house itself should the holder of the first charge agree. 
 
 
 
3.There are arrangements in force under which 10,559,704 ordinary shares of 10p 
each in the capital of Sibir (the "Shares") can be sold and the proceeds 
received by the Company applied in reduction of Mr Tchigirinski's debts. The 
Shares will be offered to JSC Gazprom Neft at GBP5 per share immediately after 
the release of this announcement. 
 
 
Enquiries to: 
Stuard Detmer, CEO 
Moscow +7 495 792 3045 
 
 
Rory Murphy, Strand Partners Limited 
London +44 (0) 7409 3494 
 
 
Ian Hannam/Neil Haycock, J.P. Morgan Cazenove 
London +44 (0) 20 7588 2828 
 
 
Nick Miles, M: Communications 
London +44 (0) 20 7153 1535 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 STREADSAAAANEFE 
 

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