3rd Quarter Key Results

21 Dec 2007 11:00

O.A.O. Tatneft21 December 2007 21 December 2007 OAO Tatneft publishes its key operational and U.S. GAAP financial results forthe nine months ended September 30, 2007 OAO Tatneft (the "Company") publishes its key operational and U.S. GAAPfinancial results for the nine months of 2007. These results have not beenaudited or reviewed by the Company's independent auditor. Key operational and financial results Nine months ended September Six months ended 30, 2007 June 30, 2007 Sales (millions of RR) 258,436 157,185Operating profit (millions of RR) 40,553 24,360EBITDA* (millions of RR) 49,131 29,050Net income (millions of RR) 29,531 16,493 Income per share of common stockBasic income (RR)Common 13.31 7.44Preferred. 13.08 7.21Diluted income (RR)Common 13.28 7.43Preferred 13.05 7.20 Crude oil production by the Group (thousand of 19,558** 13,063**tons)Gas production by the Group (millions of cubic 611.5 409.6meters)Refined gas products produced (thousand of tons) 856.7 568.1 * EBITDA calculation is explained in the Company's MD&A relating to its U.S. GAAP financial statements for the six months ended June 30, 2007, published on the Company's web site on October 30, 2007. ** 139.3 and 93.0 millions of barrels respectively. Sales and other operating revenues RR millions Nine months ended Six months ended September 30, 2007 June 30, 2007 Crude oil 194,972 116,726 Volumes sold (thousand tons) 20,295 13,340Refined products 32,234 20,232 Volumes sold (thousand tons) 2,702 1,686Petrochemicals 16,986 10,206Corporate and other sales 14,244 10,021 Total sales and other operating revenues 258,436 157,185 Financial condition summary information RR millions Nine months ended Six months ended September 30, 2007 June 30, 2007 Current assets 119,982 125,580 Long-term assets 226,468 216,337 Total assets 346,450 341,917 Current liabilities 38,463 47,193 Long-term liabilities 52,337 52,413 Total liabilities 90,800 99,606 Shareholders' equity 251,843 238,775 Working capital 81,519 78,387 Liquidity and capital resources RR millions Nine months ended Six months ended September 30, 2007 June 30, 2007 Net cash provided by operating activities 28,441 25,601Net cash used for investment activities (17,247) (13,001)Net cash used for financing activities (8,585) (750)Cash and cash equivalents at the beginning period 6,869 6,869Cash and cash equivalents at the end of period 9,478 18,719Increase in cash and cash equivalents 2,609 11,850 Forward-looking statements: These materials contain statements about futureevents and expectations that are forward-looking in nature. Any statement inthese materials that is not a statement of historical fact is a forward-lookingstatement that involves known and unknown risks, uncertainties and other factorswhich may cause actual results, performance or achievements expressed or impliedby such forward-looking statements to differ. OAO Tatneft assumes no obligationsto update the forward-looking statements contained herein to reflect actualresults, changes in assumptions or changes in factors affecting thesestatements. This information is provided by RNS The company news service from the London Stock Exchange