Investor Presentaiton

East Siberia Gross Reserves Summary - mmboe 1P 36.8 DULISMINSKOYE FIELD URALS ENERGY 2P 3P (1) 2P PV10% TRANSNEFT ESPO PIPELINE - PROPOSED ROUTING & ESTIMATED TIMING URALE ENERGY 109.4 476.6 $410.1 MM Operations: Average Production ⚫826 BOPD currently •3,000 BOPD by end of 2007 30,000 BOPD peak in 2011 2006 Activity • Purchased new 160 ton mobile rig Commissioned D&M reservoir development model Working with Transneft on ESPO inter-connect 2007 Activity . 3-4 horizontal development wells 4 well workovers • MUSAN FEDERATION PHASE PHASE II PHASE IN 22001 BULIMINGKOTED UNT KUT экомолсоно MONIDUA CHINA ПАДНО P Possible second rig deployment New field camp, generator and separation facilities Initial interconnecting pipeline work - "This [ESPO], as I have already said, is a serious competitive advantage and here is the key to solve the energy problem of the region," - President V. Putin speaking in a Tomsk meeting on Siberian regional issues Notes 1. Includes 1.7 TCF of natural gas reserves according to 31/3/06 DeGolyer & MacNaughton reserves analys is Page 17

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