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Udmurtia Gross Reserves Summary (mmbbl) 1P 5.5 2P 3P 2P PV10% 23.3 28.8 $79 MM Source D&M as at 31 December 2005 Chepetskoye NGDU Operations • Average production: - Current: 1,095 BOPD ― 2007 est. year end: 1,600 BOPD Remaining 2006 Activity • Drill 4 development wells 2007 Activity ⚫ Drill 8 development wells Page 22 KIROV OBLAST UDMURT REPUBLIC Chepetskoye Workover Operations Dubrik URALS ENERGY

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