LUKOIL Purchases Its Own Shares From ConocoPhillips

LUKOIL Finance Ltd. (a 100 percent subsidiary of LKUOIL) inked an agreement with Springtime Holdings Ltd. (affiliated with ConocoPhillips) to acquire 64,638,729 ordinary shares in LUKOIL (7.6 percent) at a price of $53.25 per share for a total sum of $3,442,012,319.25.
The deal will be effected August 16, 2010. the agreement also envisions an option for another 98,728,900 depository receipts (11.61 percent) to be acquired on September 26, 2010.
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