OREANDA-NEWS. September 28, 2007. Sibir 2007 Interim Period Highlights

• Total Group production up 95% to 7.8 million barrels versus equivalent period 2006
• Daily Group production up 22% to 47,180 bopd during the period
• EBITDA increased 97% to a record Ј76.6 million versus equivalent period 2006
• Record Net Profit after tax of Ј45.3 million, up 108% over the equivalent period in 2006
• Earnings Per Share of 14 pence
• Received dividend of $15.1 million from BP Retail network in Moscow
• SPD now generating cash surpluses and repaying loans to Sibir
• Completed acquisition of Koltogor Exploration Blocks with 970 million barrels of C3 resources

Post Period Highlights

• Completed acquisition of 69% in Moscow Oil and Gas Company, more than doubling Sibir’s
refining capacity and expanding access   to 139 petrol stations in Moscow region
• Added City of Moscow, an important arm of the Russian State, as 18.03% shareholder in Sibir
thus significantly reducing perceived   Russian risk
• Paid maiden dividend of 7 pence per share.