West Siberian Resources Ltd: Interim report for the quarter ended March 31, 2007

• Total revenue increased by 38% to MUSD 58.8 (MUSD 42.6)*
• EBITDA amounted to MUSD 13.6 (MUSD 14.9)
• The result before tax and minority interest was a loss of MUSD 1.3 (profit
MUSD 7.6)
• The net result after tax was a loss of MUSD 0.9 (profit MUSD 6.3)
• Earnings per share amounted to a loss of USD 0.00 (profit USD 0.01)
• Oil production increased by 59% to 2,264,658 barrels
• MUSD 77.8 in equity raised
• Daily oil production increased to 28,000 barrels after the reporting period
• Oil production expected to increase by 50% to 12 million barrels in 2007
• Successful drilling activities in all regions expected to result in reserve additions
• The company was approved for listing on the Stockholm Stock Exchange from May 23, 2007


*Comparisons reflect the quarter ended March 31, 2006