Report for the financial year and the quarter ended December 31, 2006

• The net result improved to MUSD 30.2 (MUSD 0.2) for the financial year and to a loss of MUSD 1.5 (loss MUSD 7.1)* for the quarter.

• EBITDA improved to MUSD 81.6 (MUSD 25.7) for the financial year and to MUSD 14.4 (MUSD 8.6) for the quarter.

• Oil production increased by 169% to 8,010,855 barrels for the financial year and by 94% to 2,472,979 barrels for the quarter.

• Total revenue increased by 210% to MUSD 245.2 (MUSD 79.2) for the financial year and by 88% to MUSD 62.0 (MUSD 33.0) for the quarter.

• Earnings per share amounted to USD 0.03 (USD 0.00) per share for the financial year and to a loss of USD 0.00 (loss of USD 0.01) per share for the quarter.

• MUSD 116.1 acquisition of Northoil in the Timano-Pechora region completed



*Comparisons reflect the twelve months and the quarter ended December 31, 2005





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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