Statement re share price movement

06 February 2017

Urals Energy PCL ("Urals Energy" or the "Company")
Statement re share price movement

The board of Urals Energy PCL (AIM: UEN), the independent oil and gas exploration and production company with operations in Russia, has noted the recent rise in the Company's share price and confirms that it knows of no reason for this price movement. The Company continues to progress its operational and drilling programmes, as indicated in the Company's announcement of 18 January 2017, but no new material developments have occurred.

The board notes the general strength in oil prices since earlier in the year. In addition, the board believes that there has recently been some improvement in market sentiment towards companies with operations in Russia.

The Company will make further announcements as and when appropriate.


For further information, please contact:

Urals Energy Public Company Limited
Andrew Shrager, Chairman
Leonid Dyachenko, Chief Executive Officer
Sergey Uzornikov, Chief Financial Officer
Tel: +7 495 795 0300,

Allenby Capital Limited, Nominated Adviser and Broker
Nick Naylor / Alex Brearley
Tel: +44 (0) 20 3328 5656,


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