Interim report for the quarter and six months ended June 30, 2007 • The quarterly net result amounted to MUSD 6.6 (MUSD 7.6)* and the six months net result amounted to MUSD 5.7 (MUSD 13.9). • EBITDA amounted to MUSD 26.8 (MUSD 19.2) for the quarter and to MUSD 40.5 (MUSD 34.1) for the six month period. • Oil production increased by 38% to 2,417,700 barrels for the quarter and by 47% to 4,682,358 barrels for the six month period. • Total revenue increased by 48% to MUSD 83.8 (MUSD 56.6) for the quarter and by 44% to MUSD 142.6 (MUSD 99.2) for the six months. • Earnings per share amounted to USD 0.01 (USD 0.01) per share for the quarter and to USD 0.00 (USD 0.01) per share for the six month period. • The 2007 capital expenditures plan was reduced from MUSD 210 to MUSD 198 • The 2007 oil production projection revised from 12 to 11 million barrels as 2nd half target of 7 million barrels is not likely to be reached • Successful drilling activities in all regions expected to result in oil reserve increases • The company was listed on the Stockholm Stock Exchange in May 2007 *Comparisons reflect the quarter and the six months ended June 30, 2006 For further information: Maxim Barski, Managing Director, telephone +7 495 956 4882 Eric Forss, Chairman of the Board, telephone +46 8 613 00 85. West Siberian Resources Ltd is an independent oil company active in Russia. West Siberian´s depository receipts are traded on the Stockholm Stock Exchange under the symbol WSIB.
Interim report for the quarter and six months ended June 30, 2007
| Source: Alliance Oil Company Ltd