Investor Presentaiton

1H 2006 Financial Results Summary Operational Highlights Average 1H 2006 Oil Production: 9,089 BOPD . Current: 10,100 BOPD Percent of 1H 2006 Crude Exports: 55.5% Average 1H 2006 Netback: $37.43/bbl Export crude: $40.07 •Domestic crude: $30.52 Domestic products: $45.04 Financial Highlights URALS ENERGY Summary 1H 2006 and 1H 2005 in US $ thousands 1H 2006 1H 2005 Production (six month average BOPD) Income Statement Net revenues 9,089 4,250 58,438 21,232 IFRS EBITDA 15,518 6,841 . Acquisition expenditures: $150.7 million. • Funding raised in 1H 2006: Operating result 4,777 3,363 $195.0 million in net equity proceeds $12.0 million in subordinated debt 3,790 (800) Net profit/(loss) Page 9

View entire presentation