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Investor Presentaiton

Portfolio Diversification Through Acquisition URALS ENERGY BARENTS SEA MOSCOW 6 234 6 Arctic Circle RUSSIAN FEDERATION KAZAKHSTAN MONGOLIA CHINA 1 Arcticneft (100%) ■2P Reserves: 36MM Bbls ■1,052 avg 1H 2006 ▪2 Refineries 1,200BOPD 2 Dinyu (100%) ▪2P Reserves: 21M MB bls 2,678 BOPD avg 1H 2006 3 Voivozh (100%) C1-C2 Russian Reserves: 25 MM B bls 4 CNPSEI (100%) ▪2P Reserves: 9MM Bbls -790 BOPD avg 1H 2006 6 Chepetskoye NGDU (100%) ▪2P Reserves: 23MM Bbls ▪844 BOPD avg 1H 2006 Sakhalin Island 8 BERING SEA 5 PACIFIC OCEAN 5 Urals Nord (100%) ■5 exploration licences JAPAN ▪94MM Bbls potential gross unrisked resoucres 7 Dulisma (100%) ■2P Reserves: 109 MMB bls 1.7 TCF Possible gas reserves "614 BOPD avg 1H 2006 8 Petrosakh (97%) ▪2P Reserves: 28MMB bls -852MM Bbls potential gross unrisked resources 3,088 BOPD avg 1H 2006 "Refinery 4,100 BOPD Page 4
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