Siberian Energy Wins Golden Galaxy Award

Siberian Energy Group, Inc.'s Chief Executive Officer, David Zaikin, was awarded the 2006 Golden Galaxy Award by the American-Russian Chamber of Commerce & Industry (ARCCI) Golden Galaxy Awards ceremony in Washington, D.C., on December 7. Siberian Energy also won the award for Member of The Year.

The awards were presented to Siberian Energy by the Ambassador of the Russian Federation, Mr. Yuri Ushakov. Other winners included Lukoil, Conoco Phillips, Cartier and Microsoft.

The award ceremony featured prominent U.S. and Russian politicians and business leaders, including governors of several regions within the Russian Federation.

The ARCCI instituted the Golden Galaxy Awards six years ago to facilitate trade and investments between the U.S. and Russia, and to honor individuals and enterprises that have demonstrated exceptional achievement in the areas of bilateral cooperation, technology transfer, efficient use of natural resources and sustainable development.

"Siberian Energy is honored to receive this recognition by the ARCCI," said David Zaikin, CEO of Siberian Energy Group, Inc. "We are one of the few U.S.-based public oil and gas companies that has all of its assets in Russia, and we have been doing business there for many years. We welcome the opportunity to influence the ongoing debate on the geopolitical environment."

Siberian Energy is one of the few U.S.-based public oil and gas exploration companies with 100% of its assets located in West Siberia, Russia. The Company evaluates investment and acquisition opportunities in Russia and Eastern Europe with the goal of bringing a portfolio of natural resource licenses and operating companies to Western investors.