Operational update for October 2012

11/9/2012 2:00 AM EST

Alliance Oil Company Ltd
Company Announcement

Operational update for October 2012

Alliance Oil Company’s average oil production for October 2012 amounted to
52,947 bopd. In the first ten months of 2012, oil production totalled 16.6 mbbl
compared to 14.1 mbbl in the same period in 2011. Preliminary average refining
volumes at the Khabarovsk refinery amounted to 82,943 bopd in October 2012. In
the first ten months of 2012 refining throughput totalled 24.3 mbbl compared to
22.4 mbbl in the same period in 2011. 

Preliminary operating results in barrels per day:

                      Upstream                     Downstream        
   2012      Production  Crude oil sales  Refining  Oil product sales
---------------------------------------------------------------------
  January      59,421         56,734       77,531        65,865      
 February      55,187         54,444       78,390        77,634      
   March       54,481         49,752       69,129        69,377      
1st quarter    56,363         53,643       75,017        70,959      
   April       52,918         52,297       70,888        72,326      
    May        54,422         53,544       81,946        93,238      
   June        53,279         53,416       82,260        83,224      
2nd quarter    53,540         53,086       78,404        82,930      
   July        53,732         57,533       83,643        85,823      
   August      53,473         50,306       84,809        89,682      
 September     52,725         51,113       85,417        89,733      
3rd quarter    53,309         52,984       84,580        88,413      
  October      52,947         48,418       82,943        85,157      



The average production at the Kolvinskoye oil field amounted to 11,759 bopd
with a total of 0.4 mbbl produced in October 2012. 

Third quarter financial results will be disclosed on November 21, 2012.
Upstream and downstream production data for November 2012 will be disclosed on
December 10, 2012. 



For further information please contact:

Arsen Idrisov, Managing Director, Alliance Oil Company, Tel.: +7 495 777 18 08

Eric Forss, Chairman, Alliance Oil Company, Tel.: +46 8 611 49 90



Also visit www.allianceoilco.com



Alliance Oil Company Ltd is a leading independent oil company with vertically
integrated operations in Russia and Kazakhstan. Alliance Oil has proved and
probable oil reserves of 760 million barrels of oil equivalent and downstream
operations that includes the Khabarovsk refinery and the leading network of gas
stations and wholesale oil products terminals in the Russian Far East. Alliance
Oil's depository receipts are traded on the NASDAQ OMX Nordic under the symbol
AOIL.