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