UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): July 26, 2006
SIBERIAN ENERGY GROUP INC.
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(Exact name of registrant as specified in its charter)
Nevada 333-118902 52-2207080
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
275 Madison Ave, 6th Floor, New York, NY 10016
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(Address of principal executive offices) (Zip Code)
(212) 828-3011
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Registrant's telephone number
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Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):
[ ] Written communications pursuant to Rule 425 under the Securities Act (17
CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17
CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
ITEM 8.01 OTHER EVENTS.
On July 26, 2006, Siberian Energy Group Inc. ("we," "us"), Baltic Petroleum
(E&P) Limited ("Baltic") and OOO Zauralneftegaz., a Russian company ("ZNG")
entered into a preliminary agreement relating to the possible extension of the
terms of our joint venture with Baltic relating to Zauralneftegaz Limited, a
United Kingdom company ("ZNG, Ltd"). (which both us and Baltic own 50% of)
entered into on October 14, 2005 and, in particular, the loan agreements
provided to ZNG pursuant thereto, at the discretion of Baltic. The preliminary
agreement contemplates ZNG and Caspian Finance Limited's entry into a new loan
agreement and a gross override royalty agreement being entered into by ZNG in
favor of Baltic, both of which are to be on final terms to be agreed between the
relevant parties.
We believe that the extension of the terms of the joint venture and the
additional loans, if consummated, of which there can be no assurance, will give
ZNG additional working capital with which to continue exploration activities on
the seven (7) oil and gas exploration and production licenses which ZNG
currently holds.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
SIBERIAN ENERGY GROUP, INC.
By: /s/ David Zaikin
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David Zaikin, Chief Executive Officer
Dated: September 14, 2006