RNS Number:4435R
Sibir Energy PLC
29 October 2003



For immediate release

29 October 2003

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

                            Conversion of Securities

Sibir announces that following the receipt of conversion notices, seven 15 per
cent. Convertible Secured Loan Notes 2002 (extended as 11 per cent. Convertible
Loan Notes 2004) of #1,000 each have been converted into 52,764 ordinary shares
of 10p each in the Company ("Ordinary Shares"). Accordingly, application has
been made for 52,764 new Ordinary Shares to be admitted to trading on AIM.
Admission is expected to occur on 6 November 2003.


Following admission, the issued share capital of the Company will be
1,668,037,830 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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