Urals Energy: Petrosakh Drilling Update

Urals Energy, the independent exploration and production company with operations in Russia, is pleased to announce that the flow rate for Well #53 has been successfully established and remains stable at around 70 bbls per day.

At the same time, drilling of Well #112 is underway and has reached the depth of slightly more than 1000 meters.

The Company has also today published its responses to a number of shareholder questions and these can be viewed at http://www.uralsenergy.com/ir_shareholderQ&A.htm