West Siberian Resources announces prospectus for Alliance Oil Company merger

The prospectus drawn up by West Siberian Resources Ltd (“West Siberian Resources”) in connection with the merger with Alliance Oil Company and the proposed listing of 1,783,540,968 Swedish depository receipts ("SDRs") in West Siberian on the OMX Nordic Exchange Stockholm, has been approved and registered by the Swedish Financial Supervisory Authority and is now available at www.westsiberian.com. The SDRs that will be issued to the shareholders of Alliance Oil Company in connection with the merger are expected to be listed on or about April 10, 2008.

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

Also visit www.westsiberian.com