Sibir Energy now ready to progress to growth and profit

This is the final part of the acquisition of the BP 25% + 1 share and was agreed at the AGM in Dec 2005. This is a very positive asset in the SBE setup and will be producing profits now.
RNS Number:4333O
Sibir Energy PLC
21 December 2006


21 December 2006

Sibir Energy Plc ("Sibir" or the "Company")

BP Retail Acquisition Update

Further to the announcement made on 12 December 2006, the Company yesterday
applied for 21,955,520 ordinary shares of 10p each ("Ordinary Shares"), which
will be issued to Bennfield Limited, to be admitted to trading on AIM. Admission
is expected to occur on 28 December 2006.

Following this Bennfield Limited will have a beneficial interest in 180,336,643
Ordinary Shares representing 56.9 per cent of the issued share capital of the
Company.