2nd Russian and CIS Oil&Gas Exporters Forum

2nd Russian and CIS Oil and Gas Exporters? Forum - Advanced Techniques and Strategic Price Risk Management will take place on September 5-6, 2005 in Moscow at the Marriott Tverskaya.

This year you must have observed the price volatility in crude oil, oil products, and gas in international and on local markets. Even with production and exports ever increasing, petroleum exchanges continually see new record prices for all global benchmarks with prices often changing considerably within one single trading day. The industry sensitivity to and dependence on price has made everyone - producers, refineries, traders and consumers - seriously consider measures to stabilize their markets in order to remain commercially viable.

Many major companies recognise that using price risk management tools can give them a competitive edge and help them stay afloat. Others prefer to go with the tide and push their luck. A strategy of not hedging can be a conscious choice if your shareholders are risk-takers or your margin is high enough, but companies who can afford to take these risks are the exceptions!

For those of you who do not use hedging because you do not understand how it can be applied, or you lack either the experience or internal expertise, on behalf of the organisers we are delighted to invite you to participate in the Forum.

Before the forum opens two price risk management workshops will be delivered concurrently in order to enhance your understanding of the issues:

During the forum you will receive the latest information on:

? Upcoming changes in the Russian crude export market in view of the draft law ?On Crude Export Quotas?
? Creation of a Russian authorised exchange to trade in crude oil export quotas, exclusively for foreign companies
? When Urals futures will become available and exchange trade will start on Russian organised markets
? Progress on derivatives trading in Russia and the implementation of the draft laws ?On Derivatives? and ?On Organised Trade?

You will be get insider tips on:

? Diversification of market supply channels and pricing methods to lower exporter's risks
? New financing and transportation options for crude and products
? Hedging energy prices in exchanges and OTC markets

On 5th July, a special cocktail-reception will be organized for all the delegates, during which you will have the opportunity to meet and create working relationships with colleagues from the former Soviet Union and Western European countries.

To take advantage of 10% Early Registration Discount please register before the 28th of July.

To register please call Vostock Capital at: +44 207 394 3090 or email: registration@vostockcapital.com
or register at our website: www.vostockcapital.com