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From: allevett	1/26/2006 7:22:23 AM
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Lukoil calls discovery largest find in 10 years Thursday, January 26, 2006 Page B13 Russian oil giant OAO Lukoil announced yesterday what it called the largest oil and gas discovery in Russia in the last 10 years, and said it has acquired a 51-per-cent stake in a gas company operating in southern Russia. Lukoil said it has discovered a field in the northern Caspian Sea with probable and possible reserves of 600 million barrels of crude oil and 42 billion cubic feet of gas. "It is the largest field discovered in Russia in the last 10 years," Lukoil said. Prior to the discovery, Lukoil said its oil and gas reserves totalled more than 20 billion barrels of oil equivalent, the second largest in the world. The company also disclosed that it has bought a 51-per-cent stake in Primorieneftegaz for $261-million (U.S.). That company has probable reserves of 2.76 billion barrels of oil equivalent, Lukoil said. LKOH (Moscow) rose .85 rubles to 78 rubles ($3.21)

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