West Siberian Resources Limited: Interim report for the quarter and the six months ended June 30, 2005

• Revenues increased by 302% to MUSD 11.5 for the quarter and by 267% to MUSD 21.2 for the six months ended June 30, 2005. • EBITDA amounted to MUSD 4.2 (MUSD 0.0) for the quarter and to MUSD 7.4 (MUSD 0.0) for the six months. • The result before tax and minority interest improved to MUSD 0.3 (loss of MUSD 0.8) for the quarter and to MUSD 2.5 (loss MUSD 0.7) for the six months period. The quarterly net result amounted to MUSD 0.6 (loss MUSD 0.8) and the six months net result amounted to MUSD 2.6 (loss MUSD 1.0) • Earnings per share amounted to USD 0.00 per share for the quarter (USD -0.00 per share) and to USD 0.00 for the six months period (USD -0.00 per share). • Oil production increased by 229% to 489,916 barrels for the quarter and by 199% to 935,336 barrels for the six months. • The pending MUSD 115 acquisitions will add significant oil reserves and production in the Timano-Pechora region of Russia.

*Comparisons reflect the quarter and the six months ended June 30, 2004 For further information: Maxim Barski, Managing Director, telephone +7-095 723 0718 Eric Forss, Chairman of the Board, telephone +46-8-613 00 85