Interim report for the quarter ended March 31, 2008

WSR stand alone interim report excluding Alliance Oil Company
• Total revenue increased by 131% to MUSD 135.9 (MUSD 58.8)*.
• EBITDA amounted to MUSD 40.28 (MUSD 13.64).
• Net result amounted to MUSD 24.86 (loss of MUSD 0.9).
• Earnings per share amounted to USD 0.02 (loss of USD 0.00).
• Oil production increased by 40% to 3,161,174 barrels.
• Merger with Alliance Oil Company completed after end of reporting period
• Proposed tax changes may have significant positive impact

Pro forma financial information for the merger with Alliance Oil Company
• Total revenue amounted to MUSD 685.0
• EBITDA amounted to MUSD 124.9
• Net result amounted to MUSD 67.0
• Earnings per share amounted to USD 0.022

*Comparisons reflect the quarter ended March 31, 2007.

For further information:
Maxim Barski, Managing Director, telephone +7 495 956 4882
Eric Forss, Chairman of the Board, telephone +46 8 613 00 85.

About Us

West Siberian Resources Ltd is an independent oil company active in the Tomsk region in Western Siberia. West Siberian’s depository receipts are traded on Nya Marknaden of the Stockholm Stock Exchange under the symbol WSIB.

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