Pjsc Tatneft Regulatory News (ATAD)

18 Aug 2006 14:23

O.A.O. Tatneft18 August 2006 On August 18, OAO Tatneft issued the following press-release: Tatneft's financial results for the first half of 2006 under Russian AccountingRegulations 18 August 2006 On 11 August 2006 OAO Tatneft published its financial statements for the firsthalf of 2006 prepared on unconsolidated basis in accordance with Russianaccounting regulations ("RAR") as a part of statutory issuer's quarterly reportfor the second quarter of 2006. For the first six months of 2006 OAO Tatneft produced 12 713.7 thousand tons ofoil (excluding production of subsidiaries and affiliated companies). OAOTatneft's oil sales volume for the first six months of 2006 was 13 335.1thousand tons, including 398.7 thousand tons of purchased oil. For the firstsix months of 2006 OAO Tatneft's non-CIS export oil sales volume was 5 947.7thousand tons, CIS exports (primarily Ukraine - Kremenchug Refinery) were 2658.3 thousand tons and domestic sales were 4 729.0 thousand tons. In the firsthalf of 2006 main domestic sales were made to the ZAO TAIF-NK's refinery inNizhnekamsk (3 803 501 tons) and to the Moscow refinery (817 926 tons). OAO Tatneft's sales revenues under RAR for the first half of 2006 were 95 085237 thousand Russian Rubles, an increase of almost 16% in comparison with 81 879 783 thousand Russian Rubles for the same period of 2005. For the first half of2006 the production costs under RAR increased by 13.2% in comparison with thesame period of 2005 and constituted 58 193 448 thousand Russian Rubles. OAOTatneft's net income under RAR for the first half of 2006 was 23 435 242thousand Russian Rubles, an increase of 43% compared to 16 137 238 thousandRussian Rubles of net income for the same period of 2005. The increase of OAOTatneft's gross revenue and net income is primarily attributable to the increaseof international oil prices. The balance sheet value of OAO Tatneft's assets under RAR as of 30 June 2006 was184 369 849 thousand Russian Rubles, including cash in the amount of 12 489 168thousand Russian Rubles. As of 30 June 2006 long-term and short-term loans andcredits of OAO Tatneft under RAR were 2 344 980 thousand and 1 268 536 thousandRussian Rubles respectively decreasing by 34.4% and almost 70% respectively from1 January 2006. Forward-looking statements: This press-release may contain certainforward-looking statements of OAO Tatneft. OAO Tatneft does not guaranteeoccurrence of any events mentioned in such statements as well as term of theiroccurrence. This information is provided by RNS The company news service from the London Stock Exchange