Annual General Meeting proposals

Board of directors
For the Annual General Meeting of West Siberian Resources Ltd to be held on Tuesday May 22, 2007, shareholders representing approximately 36% of the votes propose the re-election of the entire board of directors.

Current directors Mr Eric Forss (chairman), Mr Maxim Barski (managing director), Mr Claes Levin, Mr Oleg Fomenko, Mr Nemesio Fernandez-Cuesta and Mr Fred Boling are proposed for re-election. It is also proposed that the remuneration for the Board for the period until the next AGM be fixed at SEK 2,000,000 (currently SEK 2,000,000), to be allocated in accordance with the resolution of the Board of Directors.

Shareholders representing approximately 36% of the votes also propose that Mr Fernando Martinez-Fresneda is elected as an alternate director for Mr Nemesio Fernandez-Cuesta.

Mr Fernando Martinez-Fresneda (55) is a Mining Engineer from the ETSIM, Mining Engineer School at the Politechnic University of Madrid and has a PDD in Business Administration from the INALDE in Bogotá.

He is currently the Managing Director of Repsol YPF`s office and operations in the Russian Federation. Prior to his current position, Mr. Martínez-Fresneda was Petroleos Sudamericanos’ General Manager in Ecuador. Since 1981, he has held various positions in the Repsol organization including being Repsol`s General Manager in Colombia and Bolivia.


Auditors
The audit committee has proposed the re-election of Pricewaterhouse Coopers AB with the authorised public accountants Klas Brand and Johan Rippe as responsible.

The Annual General Meeting of shareholders will be held on Thursday May 22, 2006, at 2 pm at the Grand Hotel in Stockholm. Media and analysts are welcome to attend the meeting. The Notice of the meeting and the Board’s proposal are available at www.westsiberian.com


For further information:
Maxim Barski, Managing director, West Siberian Resources Ltd., tel. +7 495 956 48 82
Eric Forss, Chairman, West Siberian Resources Ltd., tel. +46 8 613 00 85 or +46 70 523 86 62

Also visit www.westsiberian.com