DRAFT RESOLUTIONS OF THE REGULAR SHAREHOLDERS' MEETING OF JSC “VENTSPILS NAFTA” ON 27 APRIL 2007

Approval of the report for 2006

1.To take notice of the management and the consolidated report of the joint
stock company “Ventspils nafta” about operating results of 2006, the report of
the Supervisory Board for JSC “Ventspils nafta” and opinions of the auditor on
reports for 2006. 
2.To approve the annual report of the joint stock company “Ventspils nafta” for
2006 prepared in compliance with the Law on Annual Reports of the Republic of
Latvia. 
3.To approve the consolidated report of the joint stock company “Ventspils
nafta” for 2006 prepared in compliance with the International Financial
Reporting Standards issued by the International Accounting Standards Board. 
4.To include profit of the joint stock company “Ventspils nafta” (parent
company) for 2006 in other reserves. 

Election of an auditor for auditing of reports for 2007

1. To elect the auditing company “Ernst&Young Baltic” Ltd (company licence No.
17) as an auditor of the annual and the consolidated report of the joint stock
company “Ventspils nafta” for 2007. 
2. To authorize the Management Board for JSC “Ventspils nafta” to conclude an
agreement with “Ernst&Young Baltic” Ltd about auditing reports of the joint
stock company „Ventspils nafta” for 2007 setting remuneration within the
approved budget of the joint stock company “Ventspils nafta” for 2007.