OREANDA-NEWS. OAO Tatneft (the “Company”) announces it has published its unaudited interim consolidated U.S. GAAP financial statements for the six months ended June 30, 2006.

The Company’s revenues for the first six months of 2006 were 160,860 million roubles (US$5,940 million) as compared to 138,816 million roubles (US$4,842 million) for the first six months of 2005, and the net income was 17,922 million roubles (US$661.8 million) for the first six months of 2006 as compared to 15,797 million roubles (US$551 million) for the first six months of 2005.

Total assets of the Company decreased from 309,561 million roubles (US$11,155 million) as of December 31, 2004, to 282,144 million roubles (US$9,803 million) as of December 31, 2005, and increased to 303,591 million roubles (US$11,210 million) as of June 30, 2006.

Total liabilities of the Company decreased from 132,431 million roubles (US$4,772 million) as of December 31, 2004, to 79,734 million roubles (US$2,770 million) as of December 31, 2005, and increased to 83,058 million roubles (US$3,067 million) as of June 30, 2006.

Total shareholders’ equity increased from 170,476 million roubles (US$6,143 million) as of December 31, 2004, to 198,721 million roubles (US$6,904 million) as of December 31, 2005, and to 216,712 million roubles (US$8,002 million) as of June 30, 2006.