Urals Energy: Completes Acquisition of The Arctic Oil Company

Further to the announcement made on 23 August 2016, Urals Energy, the independent exploration and production company with operations in Russia, is pleased to confirm that the acquisition of the entire share capital of Arctic Oil Company Limited (“ANK”) from JSC ArcticMorNefteGazRazvedka (“AMNGR”) has completed.  The consideration for this acquisition remains as disclosed in the Company’s announcement of 23 August 2016.