FORT WORTH, TX and BERLIN, GERMANY–( EMWNews – April 3, 2008) –

The Russian Ministry of Justice impedes service of the claim for

damages filed against Gazprom with the Landgericht (Regional Court)

of Berlin. Medvedev’s most recent statements on the state of

lawlessness in Russia are hardly suited to console the plaintiff.

Berlin, Fort Worth, April 3rd, 2008. The Texan family-owned Moncrief

Oil International has once again filed suit against the Russian

energy conglomerate OAO Gazprom in connection with ownership of the

Western Siberian Yuzhno-Russkoye gas field. The claim for damages was

filed with the District Court of Tarrant County, Texas on April 3rd,

2008 and is based on new evidence of Gazprom’s use of confidential

information and an attempt to influence the outcome of Moncrief’s

original claim in US court.

The Texas-based company has obtained evidence that during the course

of the proceedings, Gazprom used confidential information and exerted

influence on an important industry partner of Moncrief demanding that

the partner use its influence with Moncrief to pressure Moncrief to

drop the ongoing litigation. When the industry partner informed

Moncrief of the incident, it requested Moncrief not to introduce the

matter into the original court proceedings out of concern that the

interests of its shareholders would be damaged since it owned

significant assets in Russia. Today, the partner has sold the

Russian assets and no longer objects to Moncrief using the incident

in a new court procedure against Gazprom.

As early as in 2005, Moncrief had filed for damages against the

Russian group in Texas with the District Court of Fort Worth. Both

the court in Texas and the court of appeals in New Orleans held that

they did not have personal jurisdiction over the case. The courts did

not hear or pass judgment on the merits of Moncrief’s claims.

Complaint against Gazprom before the Landgericht (Regional Court) of

Berlin is not affected – service of the documents on Gazprom has been

impeded

After the courts in the USA denied jurisdiction, Moncrief Oil

International transferred its rights and claims on the

Yuzhno-Russkoye gas field to its subsidiary Moncrief Oil

International (Deutschland) GmbH, which then filed a new complaint

for damages against OAO Gazprom with the Berlin Landgericht (Regional

Court) in early October of 2007. This action in the Berlin Court is

not affected by the new action in Texas. The claims filed by Moncrief

in the Berlin court amount to US $ 12 billion. Moncrief’s hopes that

progress would be swift in Berlin Landgericht (Regional Court) have

not been fulfilled. According to information issued recently by the

Berlin court, simply serving the complaint documents on Gazprom in

Moscow, could take until 2009. The Russian Ministry of Justice may

delay the service of German court documents at its discretion and is

currently making use of this option.

“Up to the present day, Gazprom has not terminated our agreement

concerning the Yuzhno-Russkoye gas field, neither expressly nor by

implication, which means that it is continuing to act in violation of

the law. It is small consolation that the future Russian president

Dmitry Medvedev has recently stated in the Financial Times that there

is a chronic failure in Russia to observe the law, also going into

the legal nihilism of the country. Now that the Russian Ministry of

Justice itself is blocking the service of our complaint to Gazprom in

Russia, we are once again placing our hopes a) that the Berlin Court

will agree with our petition to take available remedies to accelerate

the process of formal service of the claim on Gazprom and now b) on

the new court proceedings in Texas which will take place in

parallel. We will not give up until we have our day in court”,

stated Richard W. Moncrief, the founder and owner of Moncrief Oil

International.

Background:

In 1997 and 1998, Moncrief concluded several agreements with a

Gazprom subsidiary for the development of the Yushno Russkoye gas

field. Moncrief was granted an exclusive minority ownership interest

of 40 % in the Yushno Russkoye gas field. In return, Moncrief

supplied the Gazprom subsidiary with its technical know how and

business plans and stood ready to provide for private equity as well

as to arrange for debt finance from western financial institutions.

In the lawless period of 1999-2000 in Russia from 1999 to 2000,

Gazprom executives stole the gas field from Gazprom. It was only when

Vladimir Putin was elected President that Gazprom regained control of

the Yuzhno Russkoye field. The Putin administration assured Moncrief

that it could quickly resume work on the field with Gazprom and two

Vice Chairmen of the Gazprom Management Board. Boris Yurlov and

Alexander Riazanov so notified the US government in November of 2002.

Gazprom executives stalled Moncrief however, despite the assertions

of the Putin administration. Then in 2004 during discussions of the

approved contract, Gazprom suddenly demanded higher compensation for

the participation of Moncrief. Since a Memorandum of Understanding

was signed between Gazprom and BASF in May of 2005, Gazprom has

refused to fulfill its contracts with Moncrief.

About Moncrief Oil

Moncrief Oil International is owned by Richard W. Moncrief, a third

generation principal and philanthropist of Moncrief Oil which is one

of the largest oil and gas exploration and production companies in

the United States that is still family-owned and has its headquarters

in Fort Worth, Texas. In its 75 year history, Moncrief Oil has been

one of the most successful, independent, privately-owned oil and

gas-producers in the US. The company often and regularly

collaborates with all of the major oil producers in the United

States. Moncrief Oil is credited with the discovery and development

of numerous significant oil and gas fields in various states in the

United States. Under the leadership of Richard W. Moncrief, Moncrief

Oil International Inc. has also been active in many countries outside

of the United States, such as Russia, Azerbaijan, Kazakhstan, Israel,

Indonesia and in various African nations. Richard W. Moncrief is

also the chairman of the ALL AMERICAN WILDCATTERS, an exclusive

organization of American oil and gas explorers and producers. In the

course of his career, he was a director of the independent Petroleum

Association of America, and of the Texas Commerce Bank.

For further information please contact:

Results: S. Holzinger! GmbH

Speaker: Stephan Holzinger

[email protected]

www.results-holzinger.de

Telephone: +49 (0) 175 59 30 897

Party responsible according German press law : Richard W. Moncrief,

Chairman and CEO of Moncrief Oil International, 301 Commerce Street,

Suite 3600, Fort Worth, Texas 76102, Tel. 001 817 348 8454, Fax 001

817 348 8484.

Exclusion of liability: Although Results: S. Holzinger! GmbH

exercises due care and has regular controls in place, it will not

accept to be held liable for the information provided in the present

press release being complete, correct or up-to-date, nor will it

guarantee that it is so complete, correct and up-to-date.

Copyright © Hugin AS 2008. All rights reserved.