RNS Number:4017U
Sibir Energy PLC
19 January 2004



For immediate release

19 January 2004



                  SIBIR ENERGY PLC ("Sibir" or "the Company")

                            Conversion of Securities


Sibir announces that following the receipt of a conversion notice, one 15 per
cent. Convertible Secured Loan Notes 2002 (extended as 11 per cent. Convertible
Loan Notes 2004) of #1,000 each has been converted into 7,192 ordinary shares of
10p each in the Company ("Ordinary Shares"). Accordingly, application has been
made for 7,192 new Ordinary Shares to be admitted to trading on AIM. Admission
is expected to occur on 26 January 2004.

Following admission, the issued share capital of the Company will be
1,746,575,921 Ordinary Shares.


Contacts:

Sibir Energy plc
Andrew Harrison
Company Secretary
(020) 7235 3166

Strand Partners Limited
Rory Murphy
Director
(020) 7409 3494


(Further information on Sibir can be found on the Company's website:
www.sibirenergy.com)


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