* Significant improvements in EBITDA, operating results and net income from the
fourth quarter 2008 due to improved oil pricing environment and stabilized
demand.
* Total revenue amounted to MUSD 327.6 (MUSD 549.1).
* EBITDA amounted to MUSD 99.8 (MUSD 83.2).
* Net result for the quarter amounted to MUSD 50.5 (MUSD 45.9).
* Earnings per share amounted to USD 0.02 (USD 0.03) per share.
* 5.3 million barrels were refined and 4.2 million barrels produced.
* Total debt significantly reduced and net debt decreased by MUSD 45.6 or by
8%.
* Proposed corporate name change to Alliance Oil Company Ltd.
* Proposed reverse split 20:1.
For further information:
Arsen E Idrisov, Managing Director, West Siberian Resources Ltd, tel. 7 (495)
745 58 14.
Eric Forss, Chairman of the Board, telephone +46 8 613 00 85 or +46 705 23 86
62.
*Comparisons reflect Alliance Oil Company financial and other information for
the quarter ended March 31, 2008.
West Siberian is a leading independent oil company with vertically integrated
operations in Russia and Kazakhstan. West Siberian Resources has proved and
probable oil reserves of 487 million barrels, oil production of approximately
45,000 barrels per day, refining capacity of 70,000 barrels per day and a
network of gas stations and wholesale oil products terminals. West Siberian's
depository receipts are traded on the NASDAQ OMX Nordic under the symbol WSIB.
