LUKOIL OVERSEAS ACQUIRES 65% OF ISSUED AND OUTSTANDING COMMON SHARES OF NELSON RESOURCES LIMITED OF BERMUDA
LUKOIL Overseas announces that it has acquired 65% of the issued and outstanding common shares of Nelson Resources Limited. These shares have been acquired from the major shareholders with whom LUKOIL Overseas had entered into irrevocable agreements.
As a result of the above transaction, LUKOIL Overseas becomes the owner of 566,393,162 issued and outstanding common shares of Nelson Resources Limited.
The acquisition price of US$ 2.1916 per share is equivalent to the recommended offer by LUKOIL Overseas to acquire 100% of fully diluted share capital of Nelson Resources Limited for US$ 2.0 billion, which was announced on October 13, 2005.