Requisition of an extraordinary general meeting

Urals Energy PCL

(''Urals Energy'' or the ''Company'')

Requisition of an extraordinary general meeting

Urals Energy PCL (AIM:UEN), the independent exploration and production company with operations in Russia, announces that it has received a notice requisitioning an extraordinary general meeting of shareholders (the "EGM Notice") to consider the removal of Andrew Shrager, Alexei Maximov, Leonid Y Dyachenko, Aleksey V Ogarev, Ingeborg Srenger and Stephen Buscher from the board of Urals Energy and the appointment of Maxim Barskiy and Jonathan Kollek in their place.

The EGM Notice has been served by Alpcot Capital Management Ltd and Fire East Corporation who state that they are interested in 77,302,785 shares, in aggregate, in Urals Energy representing approximately 30.62 per cent. of the Company's issued share capital.

Urals Energy is currently taking legal advice on the validity of the EGM Notice and further announcements will be made at the appropriate time. In the meantime, Urals Energy will release its interim results for the six months ended 30 June 2013 by the end of this week as originally targeted.

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