RNS Number:1900V
LukOil (OAO)
06 December 2005


       LUKOIL OVERSEAS COMPLETES ACQUISITION OF NELSON RESOURCES LIMITED

LUKOIL Overseas Holding Ltd. (LUKOIL) is pleased to announce that the requisite
conditions precedent, including shareholder approval and Kazakhstan governmental
approvals, have been obtained and that the acquisition of Nelson Resources
Limited (Nelson) has been completed.

The Registrar of Corporate Affairs of the British Virgin Islands has approved
the merger of Nelson Resources Limited, a Bermuda company, with and into Caspian
Investments Resources Limited (Caspian), a wholly owned subsidiary of LUKOIL.

As a result of the merger, Caspian as the surviving company has become the owner
of all the rights and property of Nelson. In addition, all shares of Nelson have
been cancelled and, in lieu thereof, all holders of Nelson shares (Nelson
Shareholders) are entitled to receive a cash payment of US$ 2.19162 per Nelson
share upon settlement.

As the sole owner, LUKOIL has assumed full management control over Nelson's
assets and projects, which include projects for production of hydrocarbons in
the Western part of the Republic of Kazakhstan in the Alibekmola, Kozhasai,
Karakuduk, North Buzachi and Arman fields, and options to acquire two
exploration blocks in the Kazakhstani sector of the Caspian Sea - Zhambai South
and South Zaburunie.

Computershare Investors Service Inc., as depositary for the transaction, will
commence making payments by December 8, 2005, to Nelson Shareholders who have
delivered all required documents in accordance with the instructions contained
in the Management Information Circular of Nelson dated October 28, 2005. Payment
will be forwarded to all other Nelson shareholders three business days after
they have delivered the required documentation in compliance with those
instructions.



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

END
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