November oil production

West Siberian Resources Ltd’s oil production during November amounted to 403,970 barrels or 13,466 barrels per day. November average production was 62% higher than the average third quarter production. In November 2004, oil production amounted to 141,800 barrels, or 4,725 barrels per day.

During the month, oil was produced from five fields in the Tomsk and Timano-Pechora regions. At Middle Nyurola, one new well was put on production and a water injection well was drilled. At Khvoinoye, an old well was brought back to production using a pumping unit. In Timano Pechora, a new producing oil well was put into operation. The new wells were put on line at the end of the month and will be producing for the full month of December. In November 2005, West Siberian Resources Ltd was granted a 25 year license for exploration and production at the Lek-Kharyaga and North Kharyaga fields, in Timano Pechora. The license fields, that are located within 15 kilometers of the company’s current production and infrastructure, add proven plus probable oil reserves of 91 million barrels under Russian classification, bringing total Timano-Pechora proven plus probable reserves to 145.72 million barrels. Production is expected to commence in 2006, benefiting from production infrastructure already in place in the region. The acquisition cost for the licenses amounted to USD 67 million and was financed from existing cash and the assumption of USD 40 million in debt. From December, production reports will be issued on the 3rd business day of the month. For further information: Maxim Barski, Managing director, West Siberian Resources Ltd., tel. +7 095 723 07 18 Eric Forss, Chairman, West Siberian Resources Ltd., tel. +46 8 613 00 85 Also visit www.westsiberian.com