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Sibir Energy (SBE:AIM) 528p

The company is preparing for an aggressive $80 million drilling programme on its eight Koltogorsky exploration blocks in Western Siberia. It is currently constructing winter roads to facilitate the deployment of five drilling rigs. In total Sibir aims to drill seven wells, after getting promising results from an exploration well on the acreage at the end of last year.

CEO Henry Cameron says: ‘We aim to quickly establish the commercial viability of these licences and establish the official reserves base for future development.’ Positive results here would lend momentum to the share price.