Alliance Oil Operational Update for Q1 of 2013

Alliance Oil Company’s total average daily oil and gas production for March and for the first quarter of 2013 amounted to 62,304 barrels of oil equivalent (boepd) and 57,359 boepd respectively. In total, 5.2 million barrels of oil equivalent (mboe) were produced in the first quarter of 2013. Preliminary average daily refining volumes at the Khabarovsk refinery amounted to 90,931 bopd in March and 87,006 bopd in the first quarter of 2013. In total, 7.8 mbbl were refined in the first quarter of 2013.

Upstream

In the first quarter of 2013 average oil production in the Timano-Pechora region amounted to 19,693 bopd, in the Volga-Urals region - 20,363 bopd, in the Tomsk region - 10,211 bopd and in Kazakhstan – 2,434 bopd. In the first quarter of 2013, 16 new wells were drilled.

Gas production in the Tomsk region amounted to 3,248 boepd in the first quarter of 2013. In the Khanty-Mansiysk region, non-consolidated gas production in the first quarter of 2013 amounted to 2,765 boepd, out of which 1,410 boepd were included in the reporting as equity interest.

Downstream

In the downstream segment, the refinery capacity utilization was record high in the first quarter of 2013 primarily due to strong demand for oil products domestically and in the bunker market. Production of Euro-5 standard gasoline commenced at the Khabarovsk refinery in the reporting period.

Upstream and downstream production data for April 2013 will be disclosed on May 13, 2013. First quarter 2013 financial results will be disclosed on May 22,

For more information about related Opportunities and Key Players visit Caspian Region Projects 2013.