Annual Accounts

29 Jun 2007 14:14

O.A.O. Tatneft29 June 2007 29 June 2007 OAO Tatneft published its audited consolidated U.S. GAAP financial statements for the year ended December 31, 2006 and the reserves evaluation report OAO Tatneft (the "Company") announces today that it published on its web-sitehttp://www.tatneft.ru/eng/buh.htm the audited consolidated financial statementsfor the year ended December 31, 2006 prepared in accordance with U.S. generallyaccepted accounting principles ("U.S. GAAP") (the "Financial Statements"). TheCompany also published on its web-site http://www.tatneft.ru/eng/info/miller.htmthe evaluation of its reserves as of January 1, 2007 prepared by Miller andLents, Ltd., independent international oil and gas consultants. Selected financial highlights below are based on the respective U.S. GAAPfinancial statements of the Company. Russian Ruble amounts below have beentranslated into U.S. Dollars at the exchange rates on the last day of therespective reporting period. The Company's consolidated revenues in 2006 were 318,284 mln Rubles (US$12,088mln) as compared to 300,358 mln Rubles (US$10,436 mln) in 2005. The consolidatednet income for 2006 was 29,773 mln Rubles (US$1,130.8 mln) as compared to 28,242mln Rubles (US$981.3 mln) in 2005. Total consolidated assets of the Company increased from 282,144 mln Rubles(US$9,803 mln) as of December 31, 2005, to 319,424 mln Rubles (US$12,131.6 mln)as of December 31, 2006. Total consolidated liabilities of the Company increased from 79,734 mln Rubles(US$2,770 mln) as of December 31, 2005, to 84,547 mln Rubles (US$3,211 mln) asof December 31, 2006. Total consolidated shareholders' equity increased from 198,721 mln Rubles(US$6,904 mln) as of December 31, 2005, to 231,703 mln Rubles (US$8,800 mln) asof December 31, 2006. The Company's representatives will discuss the U.S. GAAP financial highlightsfor 2006 on a conference call on 3 July 2007 at 5:30 p.m. Moscow time, 2:30 p.m.GMT. To participate in the conference call please dial the following number in theUnited Kingdom +44 1296 480100 using PIN 914 117. The Financial Statements have been filed with the Document Viewing Facility ofthe UKLA. 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