April oil production and 2006 production plan update

West Siberian Resources Ltd’s oil production during April 2006 amounted to 523,762 barrels (165,180 barrels) 1) or 17,459 barrels per day (5,506 barrels per day). Production of approximately 1,150 barrels per day was shut-in for the full month due to licensing delays in Volga Urals. The company has updated its capital program and production plan and now plans to produce 8.5 million barrels of oil in 2006.

Tomsk region Workovers were carried out at 7 production wells in the Middle Nyurola field where recent hydrofracturing activities also contributed to production increasing following the severe winter. At the Kluchevskoye oil field, drilling has started. Timano Pechora region In the Middle Kharyaga field, two production wells were taken out of production to be converted to water injection wells and well number 1011 was shut-in to be sidetracked. Drilling was completed at well number 140A which was successfully sidetracked and returned to production. Total production in the region was slightly lower than in March due to these activities. Volga Urals region Production of approximately 1,150 barrels per day was shut-in, for the full month, at the West Kochevnenskoye field. Production had to be stopped awaiting that the current exploration license is converted to a production license, which is expected during the current quarter. Excluding the West Kochevnenskoye field, Volga Urals production was higher than in March, following workovers at eleven wells. In the Kovalevskoye area, production tests will be started at the recent discovery well, subject to necessary approvals and permits. Further exploration activities are scheduled in order to define the potential reserves of the field. 2006 Capital Program and Production Plan Following the recent closing of the Saneco acquisition, management has reviewed the plans for the Volga Urals region. West Siberian Resources Ltd now plans total capital expenditures of USD 84.7 million in and expects to produce a total of 8.5 million barrels of oil from the fields in the Tomsk-, Timano Pechora- and Volga Urals regions. A total of 24 production and injection wells, including 4 exploration wells, are planned to be drilled in 2006. 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 West Siberian Resources Ltd is an independent oil company active in Russia. West Siberian´s depository receipts are traded on Nya Marknaden of the Stockholm Stock Exchange under the symbol WSIB. 1) Comparisons refer to April 2005.