Siberian Energy Appoints Helen Teplitskaia President and Board Member

NEW YORK, NY -- (MARKET WIRE) -- May 7, 2007 -- Siberian Energy Group, Inc. (OTCBB: SIBN) ("the Company") a U.S.-based publicly traded oil and gas exploration company with 100% of its assets located in West Siberia, Russia, announced today that Helen Teplitskaia, a leading expert on Russian/Eurasian affairs, has joined the Company as president and a member of the board of directors.

As president, Teplitskaia's mandate is to develop strategies for international expansion, including mergers and acquisitions, facilitate political interfacing and assist in building strategic global relationships to support Siberian Energy's sustainable growth.

Teplitskaia joins the Company from the Washington, DC, office of Imnex International, a Chicago-based management-consulting firm providing strategic advice and integrated business services to companies operating internationally, where she is executive vice president and head of the Eurasia practice.

Chairman and chief executive officer, David Zaikin, said, "We are very pleased to welcome Helen to the Siberian Energy team. She brings a wealth of experience in management and international business to support our growth strategy. Her proven track record of developing relationships in the government and private sectors will be invaluable."

"I look forward to contributing to Siberian Energy's development," commented Ms. Teplitskaia. "It has just been announced that Russia was the world's largest oil producer in 2006, and I believe the Company is well positioned for success with strategically located assets in the most prolific oil producing region of Russia -- West Siberia."

Teplitskaia is founder and president of the American-Russian Chamber of Commerce & Industry, president of the American-Eurasian Chamber of Commerce, director of the International Energy Advisory Council and Adjunct Associate Professor of International Business and Markets - Global Initiatives in Management at Northwestern University Kellogg School of Management.

Throughout her career, Ms. Teplitskaia has successfully assisted a variety of government agencies and private sector companies with start-up operations in new markets, direct investment, mergers and acquisitions, joint ventures and licensing, marketing research, political interfacing and media relations. Her client base includes the United States Agency for International Development, US State Department, Ministry of Foreign Affairs of the Republic of Uzbekistan, AT&T, Baker & McKenzie, Case New Holland, Gazprom, Gillette, HeidelbergCement, Ingersoll-Rand, Maytag, Motorola, Pepsi-Cola and Morgan Stanley.

She has appeared on CNN, Chicago Tonight and National Public Radio programs and has been featured in the New York Times, Washington Times, Journal of Commerce, Chicago Tribune, and Crain's.

Helen Teplitskaia received her BA/MIS degrees from the St. Petersburg University of Culture, St. Petersburg, Russia, and an MBA degree from Northwestern University Kellogg School of Management, Evanston, Ill.

About Siberian Energy Group, Inc.

Siberian Energy is a unique, U.S.-based public oil and gas exploration company with 100% of its assets located in West Siberia, Russia. The Company evaluates investment and acquisition opportunities in Russia and Eastern Europe with the goal of bringing a portfolio of natural resource licenses and operating companies to Western investors. Siberian Energy strives to provide an attractive ROI to shareholders by pursuing high-yield investment projects, reducing costs, and adhering to strict principles of transparency, disclosure and environmental consciousness. Additional information may be found at www.siberianenergy.com.

The forward-looking statements contained herein are subject to certain risks and uncertainties that could cause actual results to differ materially from those reflected in the forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect management's analysis only as of the date hereof. The company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date thereof, and also takes no obligation to update or correct information prepared by third parties that are not paid for by the company. Readers should carefully review the risks described in other documents the company files from time to time with the Securities and Exchange Commission, including Annual Reports, Quarterly Reports and Current Reports on Form 8-K.

Contact Information: Contacts: Siberian Energy Group, Inc. David Zaikin Chief Executive Officer Tel: 212-828-3011 Email: dzaikin@siberianenergy.com The Global Consulting Group Rachel Levine Investor Relations Tel: 646-284-9439 Email: rlevine@hfgcg.com The Global Consulting Group Ivette Almeida Media Relations Tel: 646-284-9455 Email: ialmeida@hfgcg.com