Urals' directors also said they have no intention of restructuring the company to operate on an ongoing basis, and they expect to cancel its admission to the UK's Alternative Investment Market (AIM) following the disposal of its remaining assets—Russian minor oil producers Petrosakh and Arcticneft.

Last week, Urals called for an emergency general meeting of its shareholders, to be held in Cyprus on 26 January, to approve the disposal of its two major subsidiaries in Russia, Dulisma and Taas Yuriakh, to Sberbank Savings Bank of Russia or an affiliate.