RNS Number:6446S
LukOil (OAO)
13 October 2005


LUKOIL OVERSEAS ANNOUNCES DEFINITIVE AGREEMENT TO ACQUIRE NELSON RESOURCES
LIMITED OF BERMUDA FOR US 2.0 BILLION

LUKOIL Overseas announces that it has entered into an agreement to amalgamate
with Nelson Resources Limited of Bermuda whereby The Board of Directors of
Nelson Resources Limited will recommend that its shareholders vote in favor of
amalgamation at a general shareholders meeting to be held in late November 2005.

If the amalgamation is approved by 75% of votes cast at the general shareholders
meeting, LUKOIL Overseas will acquire 100% of the fully diluted common shares of
Nelson Resources Limited for US 2.0 billion dollars.

Furthermore, in accordance with irrevocable agreements concluded with
shareholders of Nelson Resources Limited holding in aggregate approximately 66%
of the outstanding shares of the company, LUKOIL Overseas intends to purchase
these shares at the offer price.



                      This information is provided by RNS
            The company news service from the London Stock Exchange

END
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