Interim Results Published

30 Oct 2007 15:53

O.A.O. Tatneft30 October 2007 30 October 2007 OAO Tatneft published its unaudited consolidated interim condensed U.S. GAAPfinancial statements for the six months ended June 30, 2007. OAO Tatneft (the "Company") announces today that it published on its web-sitehttp://www.tatneft.ru/eng/buh.htm the unaudited consolidated interim condensedfinancial statements for the first half of 2007, prepared in accordance withU.S. generally accepted accounting principles ("U.S. GAAP") (the "FinancialStatements"). 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 for the first half of 2007 were 157,185 mlnRubles (US$6,088 mln) as compared to 160,860 mln Rubles (US$5,940 mln) for therespective period of 2006. The consolidated net income for the first half of2007 was 16,493 mln Rubles (US$639 mln) as compared to 17,922 mln Rubles (US$662mln) for the respective period of 2006. Total consolidated assets of the Company increased from 319,424 mln Rubles(US$12,132 mln) as of December 31, 2006, to 341,917 mln Rubles (US$13,242 mln)as of June 30, 2007. Total consolidated liabilities of the Company increased from 84,547 mln Rubles (US$3,211 mln) as of December 31, 2006, to 99,606 mln Rubles (US$3,858 mln) asof June 30, 2007. Total consolidated shareholders' equity increased from 231,703 mln Rubles(US$8,800 mln) as of December 31, 2006, to 238,775 mln Rubles (US$9,248 mln) asof June 30, 2007. The Company's representatives will discuss the U.S. GAAP financial highlightsfor the first half of 2007 on a conference call the details of which will beannounced separately. 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