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                      Total Reserves of JSC Permoblneft
   1. Total reserves according to available licenses for the development of Samoilovskoye and Krasnoselskoye oilfields. Category C1+C2 oil in place reserves in Samoilovskoye field are 2 508 thousand tons (appr.17.56 mln.bbl.). Approved recoverable C1 – 95.0 thousand tons (0.7 mln.bbl.) , category C2 – 407 thousand tons (2.84 mln.bbl.). In November 2007 the company obtained a license for geological study of Nizhne-Samoilovskiy area including exploration and estimation of hydrocarbon reserves. As a result of activities that will be implemented under this license, JSC Permoblneft will increase its category C1+C2 oil in place reserves by 3 403.88 thousand tons (appr. 23.83 mln.bbl.). Krasnoselskoye field oil in place reserves of category C1+C2 are 1 451 thousand tons (appr.10.16 mln.bbl.). Approved recoverable reserves of category C1 – 198.0 thousand tons (1.4 mln.bbl.), category C2 – 79 thousand tons (0.6 mln.bbl.).             2. Total reserves by wells owned by JSC Permoblneft. | Field | Well No. | Oil Reserves, thousand tons  | Oil Reserves, mln. bbl | Status |  | Category С1 | Category С1 |  | Geolo-gical | Recove-rable | Geolo-gical | Recove-rable |  | Uinskoye  | № 10  | 291 | 116  | 2.037  | 0.812  | suspended  |  | Peschankovskoye  | № 4  | 303  | 57  | 2.121  | 0.399  | suspended  |  | Cherdynskoye (Reserves С2 – 891thsnd.tons (6.24 mln. bbl )  | № 37,41,50,51     | 870     | 257     | 6.09     | 1.799     | suspended     |  | Verkhne-Bobrovskoye  | № 8  | 21  | 5,5  | 0.147  | 0.0385  | exploration, suspended  |  | Lesorubnoye  | № 102  | 6  | 1  | 0.042  | 0.007  | exploration, suspended  |  | Yuzhno-Kukushtanskoye  | № 106  | 53  | 10  | 0.371  | 0.07  | exploration, suspended  |  | Druzhininskoye  | № 123  | 11  | 2  | 0.077  | 0.014  | exploration, suspended  |  | Zubovskoye  | № 141  | 66  | 111  | 0.462  | 0.777  | suspended  |  | Tyushevskoye  | № 155  | 29  | 3  | 0.203  | 0.021  | suspended  |  | Pikhtovoye  | № 181  | reserves are not on balance in Central Commission on Reserves  | exploration, suspended  |  | Rakinskoye  | № 276  | 57  | 11  | 0.399  | 0.077  | exploration, suspended  |  | Tolkushinskoye  | № 37  | 34  | 3  | 0.238  | 0.021  | exploration, suspended  |  | Nikolskiy Vystup  | №49  | 153  | 46  | 1.071  | 0.322  | exploration, suspended  |  | Babkinskoye  | № 51  | 44  | 3  | 0.308  |    | exploration, suspended  |  | Total  | 1 938  | 625.  | 13.566  | 4.3575  |    |  | Total reserves including С2  | 3 722.50  | 17.92  |    |  
   JSC Permoblneft total oil reserves for all the well stock are 11 084.98 thousand tons of oil (appr. 77.6 mln.bbl.) (including license for Nizhne-Samoilovskiy area) Oil Production in 2007.    As a result of Samoilovskoye field development works performed from February till May, Samoilovskoye field oil production in the current year of 2007 (from January till November) was 1 229 tons of oil (8 603  bbl.).   Near-Term Prospects of Oil Production Increase. The company near-term plans include: - Re-entry of suspended well No 218 in Krasnoselskoye field. Expected production rate is 15 tons (105 bbl. ) of dry oil a day.
 - Drilling of additional well in Samoilovskoye field. Expected production rate is 7-12 tons (49-84 bbl.) of dry oil a day.
 
 As a result of these activities, expected annual oil production rate in 2008, including wells in operation, will be 11 880 tons (83 160 bbl.)of dry oil      
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