West Siberian to be listed on the Stockholm Stock Exchange

The Stockholm Stock Exchange will approve the application from West Siberian Resources Ltd. (“West Siberian”) to list its SDRs on the Stockholm Stock Exchange, conditional upon the members of the Board of Directors and management participating in the obligatory training seminar held by the Stockholm Stock Exchange. The company will be delisted from First North simultaneously with the listing on the Stockholm Stock Exchange.

The SDRs will be traded under the ticker symbol “WSIB” on the Stockholm Stock Exchange and a trading lot will be 1,000 SDRs. The last trading day on First North is expected to be Tuesday May 22, 2007 and the first day of trading on the Stockholm Stock Exchange is expected to be Wednesday May 23, 2007.

Current owners of West Siberian will not need to take any actions in connection with the listing of West Siberian’s SDRs on the Stockholm Stock Exchange.

The past few years have seen Western Siberia expand rapidly, partly through acquisitions, and the company is now active in three separate oil producing regions in Russia. Oil reserves, production and earnings have all grown significantly. West Siberian intends to continue its business expansion and believes that the new listing on the Stockholm Stock Exchange will enhance its position for future growth.

The listing prospectus, including the Annual Report for 2006, is available on West Siberian’s website, www.westsiberian.com.

Carnegie is the financial advisor in the listing process.