CONSULTINGAGREEMENT

ThisAgreementismadeonJanuary16.XXXX.byandbetweenSiberianEnergyGroupInc.,aStateofNevadaincorporatedcompany,withtheaddressof275MadisonAvenue,6thfloor.NewYork?NY10016.andaConsultingFirm^Business-Standard^,aMoscow.Russiaincorporatedcompany,withtheaddressof107120,Russia,Moscow.

Nastavnicheskypereulok#17,unit1.

InthisAgreement,thepartywhoiscontractingtoreceiveservicesshallbereferredtoasthe”Company”,andthepartywhowillbeprovidingtheservicesshallbereferredtoasthe”Consultant".

WHEREAStheConsultanthasexpertiseinmanagement,marketing,financial,andlegalconsulting.

WHEREAStheConsultantandtheCompanyhavepreviouslysignedtheConsultingAgreementeffectiveMarch15,2006andtheCompanyisdesirousofhavingextendedconsultingservicesbytheConsultantforyearXXXX.

Therefore,thepartiesagreeasfollows:

DESCRIPTIONOFSERVICES TheConsultantshallprovidethefollowingservices(collectively,the'Services'*):Generalmanagement,publicmarket,financialandlegalconsultingservices,whichwillinclude,butnotbelimitedto,specifictasksandprojectsaswillbedeterminedfromtimetotimebytheboardofdirectorsoftheCompany.

Theseconsultingserviceswillinclude:

investigatingfinancingopportunitiesinprivateandpublicmarkets,includingtheterritoryofRussianFederation;

assistingintheestablishmentoftheCompany'sdaytodaybusinessmanagement;

interfa&ngwiththeCompany'sshareholdersandstrategicpartners;

assistinginnegotiationswithpotentialinvestmentpartnersandstrategicpartnersinmergeropportunitiesaccordingtoSEGinstructions;

publicizinglatestCompanyactivitiesandundertakingstotheCompany'sshareholdersastheCompanydeemsmaterialandappropriate;

assistinginthepreparationofthecompany'sBusinessPlan.PrivatePlacementMemorandumandotherdocumentationnecessaryforthesolicitationofloansandinvestmentfundsfortheCompany;

assistinginacquisitionbytheCompany'sinvesteeofnewgeologicalexplorationorproductionlicensesontheterritoryofRussia,WesternSiberiaregion,legalguidanceandconsultationsthroughouttheentire

process,upuntiltheClientreceivestitletothelicense?

PERFORMANCEOFSERVICES.Themannerinwhichthe

ServicesaretobeperformedandthespecifichourstobeworkedbytheConsultantshallbedeterminedbytheConsultant.TheCompanywillrelyontheConsultanttoworkasmanyhoursasmaybereasonablynecessarytofulfilltheConsultanfsobligationsunderthisAgreement.

3? FEES?InconsiderationoftheServicestobeprovidedbytheConsultant

hereunder,theCompanyagreestoreimbursetheConsultantwithaconsultingfeeofUSS15,000permonthstartingJanuaryofXXXX.

4. GRANTOFSHARESInadditiontocashconsideration

describedinitem3abovetheCompanyagreestoissue200,000restrictedcommonsharesofSiberianEnergyGroupInc.asasigningbonusforXXXXservices.

Additionally?inconnectionwithsuccessfulacquisitionbytheCompanyoftheRussiabased

kKondaneftegazLLC",

operatingintheKhanty■卜lansiyskregionofRussianFederation,theConsultantwillbeawardedwithCompany'srestrictedsharesofcommonstockinamountof200.000shares.

5? EXPENSEREIMBURSEMENT.TheCompanyshallpayallreasonableMout-of-

pocket"expenses,includingbutnotlimitedtotravelandaccommodations,withthepriorapprovaloftheCompany'sChiefExecutiveOfficerrequired.

SUPPORTSERVICES?TheCompanywillprovidetotheConsultantallthenecessarydocumentation.astheCompanydeemsrelevantandappropriate,requiredintheeffortstodistribute

informationaboutandsolicitinvestmentsintheCompany,includingbutnotlimitedtoaBusinessPlanandaPrivatePlacementMemorandumandwillcooperatewiththeConsultantinkeepingalltheexistingandpotential

stakeholdersinformedoftheCompany^up-to-dateoperationalandlegalstanding?

COMPANYAPPROVAL.TheConsultantandtheCompanyrecognizethattheConsultanfsServiceswillincludeapproachingindividualsandinstitutionsthattheCompanyalreadyhashadcontactwithordeclinestoentertain.TheConsultantshallprovideinformationtotheCompanypriorto

approachinganyindividualsandinstitutionsandobtaintheapprovaloftheCompany'sChiefExecutiveOfficer?

TERM/TERMINATION.ThisAgreementshallbeforaperiodoftwelvemonths,endingonDecember31,XXXX.Itshallautomaticallyberenewedforafurthertwelvemonthsunlessterminatedbyeitherpartyfifteendayspriortotheendofthetermofthecontract.

RELATIONSHIPOFPARTIES?Itisunderstoodbythepartiesthatthe

ConsultantisanindependentcontractorwithrespecttotheCompany,andnotanemployeeofSiberianEnergyGroupInc.TheCompanywillnotprovidefringebenefits,includinghealthinsurancebenefits,paidvacation.oranyotheremployeebenefit.

11? DISCLOSURE.TheConsultantisrequiredtodiscloseanyoutside

activitiesorinterests,includingownershiporparticipationinthedevelopmentofpriorinventions,thatconflictormayconflictwiththebestinterestsoftheCompany'smanagementandshareholders.

12? EMPLOYEES?TheConsultant'sassociates,ifany,whoperformservicesfortheCompanyunderthisAgreementshallalsobeboundbytheprovisionsofthisAgreement?

INDEMNIFICATION.TheCompanyagreestoindemnifyandholdharmlesstheConsultantfromallclaims,losses,expenses,feesincludingattorneyfees,costs,andjudgmentsthatmaybeassertedagainsttheConsultantthatresultfromtheactsoromissionsoftheCompany.

ASSIGNMENT.TheConsultanfsresponsibilityunderthisAgreementmaynotbeassignedortransferredtoanyotherperson,firm,orcorporationwithoutthepriorwrittenconsentoftheCompany'sboardofdirectors.

15? CONFIDENTIALITY.TheCompanyrecognizesthattheConsultanthas

andwillhaveproprietaiyinformation(collectively,^Information**)whicharevaluable,specialanduniqueassetsoftheCompanyandneedtobeprotectedfromimproperdisclosuretounrelatedparties.InconsiderationforthedisclosureoftheInformation,theConsultantagreesthatitwillnotatanylimeorinanymanner,eitherdirectlyorindirectly,useanyInformationforitsownbenefit,ordivulge,disclose,orcommunicateinanymanneranyInformationtoanyexternalpartywithoutthepriorwrittenconsentoftheCompany.TheConsultantwillprotecttheInformationandtreatitasstrictlyconfidential.

16? CONFIDENTIALITYAFTERTERMINATION.Theconfidentiality

provisionsofthisAgreementshallremaininfullforceandeffectaftertheterminationofthisAgreement.

17? NOTICES?AllnoticesrequiredorpermittedunderthisAgreementshallbe

inwritingandshallbedeemeddeliveredwhendeliveredinpersonordepositedintheUnitedStatesmail,postageprepaid?addressedasfollows:

IFfortheCompany:

275MadisonAve.,6thfloor.NewYork.NY10016

Attn:ChiefExecutiveOfficer

SiberianEnergyGroupInc.

IFfortheConsultant:107120.Dnneylnea^,

Ianoaaie^aneeeiad.,.17,nod.l

LLC^Business-Standard5*

Suchaddressmaybechangedfromtimetotimebyeitherpartybyprovidingwrittennoticetotheotherinthemannersetforthabove?

ENTIREAGREEMENT.ThisAgreementcontainstheentireagreementofthepartiesandtherearenootherpromisesorconditionsinanyotheragreementwhetheroralorwritten.ThisAgreementsupersedesanypriorwrittenororalagreementsbetweentheparties.

AMENDMENT.ThisAgreementmaybemodifiedoramendediftheamendmentismadeinwritingandissignedbybothparties.

SEVERABILITY.IfanyprovisionofthisAgre