Tatneft published its audited consolidated U.S. GAAP 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).