NLG Arria Nlg Ords

    2 December 2005

                           APPROVAL OF AMALGAMATION                            

Nelson Resources Limited ("Nelson") (TSX/AIM: NLG) is pleased to announce today
that its shareholders approved the amalgamation (the "Amalgamation") of Nelson
with and into Caspian Resources Investments Ltd. ("Caspian"), a wholly-owned
subsidiary of Lukoil Overseas Holding Ltd. ("Lukoil"). The Amalgamation was
approved by 97.07% of the votes cast by shareholders voting at the meeting.

Subject to the satisfaction of the other conditions contained in the Agreement
to Amalgamate among Nelson, Caspian and Lukoil, it is anticipated that Caspian
will file articles of merger in the British Virgin Islands to give effect to
the Amalgamation on December 5, 2005.

On the Amalgamation becoming effective, Nelson will cease to exist and all
shares of Nelson will be cancelled. In lieu of their shares, all holders of
Nelson Shares ("Nelson Shareholders"), other than dissenting Nelson
Shareholders and Lukoil and its affiliates, will be entitled to receive a cash
payment of US$2.19162 per Nelson share. Dissenting Nelson Shareholders will be
entitled to claim payment of the fair value of their shares, as fixed by a
Bermuda court, provided they comply with the dissent procedures of applicable
law.

For further information, please contact:
----------------------------------------
Nick Imboden                                  Tel: 020 7495 8908
Nelson Resources Limited                      imboden@nelsonresources.co.uk

Investor Relations:

Nick Lambert                                  Tel: 020 7861 3232
Bell Pottinger Corporate & Financial (London)

END

Arria Nlg Ords (LSE:NLG)
Historical Stock Chart
From May 2024 to Jun 2024

Arria Nlg Ords (LSE:NLG)
Historical Stock Chart
From Jun 2023 to Jun 2024