Settlement of Petraco Loan

Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR).

13 September 2016

Urals Energy PCL

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

Settlement of Petraco Loan

Urals Energy (AIM:UEN), the independent exploration and production company with operations in Russia, is pleased to announce, that further to the Company's announcements on 25 May 2016 and 11 August 2016, the loan provided by Petraco Oil Company Limited including accrued interest has now been settled in full.

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For further information, please contact:

Urals Energy Public Company Limited

Andrew Shrager, Chairman Tel: +7 495 795 0300

Leonid Dyachenko, Interim Chief Executive Officer www.uralsenergy.com

Allenby Capital Limited

Nominated Adviser and Broker

Nick Naylor Tel: +44 (0) 20 3328 5656

Alex Brearley www.allenbycapital.com