Last checked at 30 Apr 2010 08:23
30 April 2010
OAO Tatneft published its audited consolidated U.S. GAAP financial statements for the year ended December 31, 2009
OAO Tatneft (the "Company") published today on its web-site (http://www.tatneft.ru/wps/wcm/connect/tatneft/portal_eng/to_shareholders/information_disclosure/consolidated_financial_statements/) the audited consolidated financial statements for the year ended December 31, 2009 prepared in accordance with U.S. generally accepted accounting principles ("U.S. GAAP") (the "Financial Statements") and related Management's Discussion and Analysis of Results of Operations (the "MD&A").
Selected financial highlights below are based on the respective U.S. GAAP financial statements of the Company. These highlights do not replace the Financial Statements or the MD&A and all interested persons are encouraged to read these documents for full understanding of 2009 U.S. GAAP results. Russian Ruble amounts below have been translated into U.S. Dollars, for revenue and net income at the average exchange rate during the respective reporting period, and for balance sheet items at the exchange rate on the last day of the respective reporting period.
The Company's consolidated revenues in 2009 were 380,648 million Rubles (US$ 12,000 million) as compared to 444,332 million Rubles (US$ 17,873 million) in 2008. The consolidated net income attributable to Group shareholders for 2009 was 54,372 million Rubles (US$ 1,714 million) as compared to 8,413 million Rubles (US$ 338 million) in 2008.
Total consolidated assets of the Company increased from 392,980 million Rubles (US$ 13,376 million) as of December 31, 2008, to 495,742 million Rubles (US$ 16,394 million) as of December 31, 2009.
Total consolidated liabilities of the Company increased from 128,121 million Rubles (US$ 4,361 million) as of December 31, 2008, to 182,235 million Rubles (US$ 6,026 million) as of December 31, 2009.
Total consolidated shareholders' equity increased from 264,859 million Rubles (US$ 9,015 million) as of December 31, 2008, to 313,507 million Rubles (US$ 10,367 million) as of December 31, 2009.
As of December 31, 2009 the Company's total proved reserves (SPE/ PRMS) of crude oil and condensate were 862 million tons (6,141 million barrels).
The Company's representatives will discuss the U.S. GAAP financial highlights for 2009 on a conference call on 30 April 2010 at 5.00 p.m. Moscow time, 2.00 p.m. UK time:
+7 495 545 0587 Russia Toll +44 (0)20 3140 8286 UK Toll +1 718 354 1152 USA Toll +44 (0)20 7138 0829 International Toll
Enter ID 4886216 to participate in the conference call. The conference call playback will be available after the call until 7th May 2010 by dialing any of the following numbers and entering ID 4886216:
810 800 2870 1012 Russia Free Phone +44 (0)20 7111 1244 UK and International
+1 347 366 9565 USA
The Financial Statements are filed with the Document Viewing Facility of the UKLA.
Forward-looking statements: These materials contain statements about future events and expectations that are forward-looking in nature. Any statement in these materials that is not a statement of historical fact is a forward-looking statement that involves known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements expressed or implied by such forward-looking statements to differ. OAO Tatneft assumes no obligations to update the forward-looking statements contained herein to reflect actual results, changes in assumptions or changes in factors affecting these statements.