United Energy Group Extends Expiration Date for Transmeridian Offer

United Energy Group Limited has extended the expiration date for its previously announced cash tender offer for all of the outstanding shares of 15% senior redeemable convertible preferred stock and 20%
junior redeemable convertible preferred stock of Transmeridian Exploration Incorporated.

The expiration date for the tender offer, which was previously scheduled for 5:00 p.m., New York City time, on October 7, 2008, will be extended until 5:00 p.m., New York City time, on October 28, 2008, unless further extended. The withdrawal rights for tendered shares of Preferred Stock expired at 12:00 midnight, New York City time, on August 29, 2008.

As of 5:00 p.m., New York City time, on October 7, 2008, approximately 185,881 shares of the Junior Preferred Stock and approximately 61,316 shares of the Senior Preferred Stock had been validly tendered into the
tender offer and not withdrawn.

All other material terms of the tender offer, which are set forth in the Offer to Purchase that was mailed to each holder of Preferred Stock on August 4, 2008 and in the subsequent notice that was mailed to each holder
of Preferred Stock on September 23, 2008, remain unchanged.