Interim report for the quarter and six months ended June 30, 2008

Interim report for the quarter and six months ended June 30, 2008

Following the recent merger with Alliance Oil, which was completed in the second
quarter 2008, the group announces the consolidated earnings for the integrated
operations of the combined group for the first time.

• Total revenue increased by 126% to MUSD 869.2 (MUSD 385.4)* for the quarter
and by 97% to MUSD 1 418.2 (MUSD 719.0) for the six month period.
• EBITDA amounted to MUSD 269.4 (MUSD 45.4) for the quarter and to MUSD 352.6
(MUSD 95.9) for the six month period.
• The quarterly net result amounted to MUSD 159.4 (MUSD 20.4) and the six months
net result amounted to MUSD 205.3 (MUSD 44.3).
• Earnings per share amounted to USD 0.05 (USD 0.01) per share for the quarter
and to USD 0.08 (USD 0.02) per share for the six month period. 
• Oil production increased by 31% to 4,266,707 barrels for the quarter and by
32% to 8,317,869 barrels for the six month period.
• 6,388,642 barrels of oil were refined in the quarter and 12,894,498 barrels
were refined in the first six months of 2008. 


*Comparisons reflect Alliance Oil Company financial and other information for
the quarter and six months ended June 30, 2007.

For further information:
Maxim Barski, Managing Director, telephone +7 495 956 4882
Eric Forss, Chairman of the Board, telephone +46 8 613 00 85. 
Anton Klimenko, Head of Investor Relations +7 495 956 4882


West Siberian is a leading independent oil company with vertically integrated
operations in Russia and Kazakhstan.  West Siberian Resources has proven and
probable oil reserves of 489 million barrels, a production of 50,000 barrels per
day, refining capacity of 70,000 barrels per day and a network of 256 gas
stations and 24 wholesale oil terminals. West Siberian's depository receipts are
traded on the OMX Nordic Exchange Stockholm under the symbol WSIB.