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Repsol says no decision on West Siberian stake

Tue Aug 26, 2008 4:47am EDT

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MADRID, Aug 26 (Reuters) - Repsol YPF (REP.MC) has still not decided whether to increase its 3 percent stake in West Siberian Resources WSIBsdb.ST, a spokesman at the Spanish company said on Tuesday.

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Earlier, newspaper Cinco Dias cited West Siberian CEO Maxim Barski as saying that Repsol intended to recover its 10 percent stake in his company, which was diluted to 3 percent after its merger with Alliance Oil in January.

Rumours Repsol could boost its stake in West Siberian fuelled a 1.6 percent rise in the Russian company's share price on the Stockholm stock exchange on Monday, Cinco Dias said.

West Siberian has a total market capitalisation of $3.3 billion, according to Reuters data, and the company says it has proven and probable reserves of 489 million barrels of oil. (Reporting by Jonathan Gleave, editing by Will Waterman)

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