1. LIK OIL COMPANY PROFILE Lik oil trades in petroleum products, methanol, natural gas, power and emission allowances all over the world. We maintain a global presence to provide avoidable energy. Lik oil has introduced the principle of division of roles/responsibilities between the line management and procurement function in order to meet the requirement for good control. The line management is responsible for planning demand, allocating technical and operational expertise and approving suppliers recommended by the relevant procurement entity. Only the procurement function is authorized to sign binding agreements with buyerson Lik oil’s behalf. The procurement function is responsible for proactive coordination, planning and execution of procurements on behalf of the line management. Lik oil has divided the procurement function into five areas. These areas manage 55 categories which cover the company's total need of goods and services. The majority of our oil and gas marketed in Europe is sold under long-term contracts to large and reliable European gas utility companies and suppliers. Lik oil also trades gas in the spot market, and the company is also very active in the emerging liquid trade markets for gas in Europe. Lik oil expects the world’s total demand for natural gas to grow by about 30 percent globally in the coming two decades and Lik oil also has increasing marketing activities in connection with the company’s positions in the U.S., Azerbaijan and Asian countries. Lik oil develops, integrates and implements procurement strategies to achieve the best possible agreements for the group. This is achieved through a category-based approach to goods and services, based on a coordinated control of demand, the global market situation and robust analyses in order to minimize risk in the execution phase. The buyer’s must be prequalified in order to compete for tenders.

2. Lik oil’s procurement process is based on competitive tendering and on the principles of transparency, non-discrimination and equal treatment of tenderness. Lik oil's is one of the Russia’s largest global crude oil sellers, trading above two million barrels of crude and condensate (light oil) every day. These oils are mostly high-quality grades of low to medium density, with a low sulphur content. Lik oil's has built up an extensive system for global oil trading from offices in Moscow Seaborne transportation of Lik oil’s crude, product and gas liquids volumes involves morethan 400 voyages per year and moves over 10 million tons of oil annually. In addition to conventional shipping operations, Lik oil’s utilizes state-of-the-art shuttle tankers under contract from first-class owners. All shipping activities in Lik oil’s are performed with a heavy focus on health, safety and environmental protection and in accordance with the group’s ethical guidelines. Lik oil’s has an active programmer of vessel pre-inspection and approval, with such work being carried out on a regular basis worldwide. Chartering activities are carried out from the office in black sea port. Crude oil production by Lik oil in 2011 (including the share of production by equity affiliates) was 13. 058 million tones. Lower oil output in 2011 reflects decline of production at fields in Western Siberia, where the Company produces 54% of its crude oil. The decline was due primarily to objective changes in the structure of recoverable reserves. However, improvement to systems for maintaining strata pressure, use of the latest enhanced recovery technologies and horizontal drilling enabled Lik oil to stabilize output levels in Western Siberia from the middle of the year. The number of oil production wells was 1.6% higher in 2011 than in 2010, and the number of injection wells increased by 6.0%, raising the efficiency of production. The share of idle wells was almost unchanged from the end of 2010 at 12.5% of the total number. Average daily oil output at wells in projects with Group participation was 13.8 tones. A program of industrial testing enabled a technology breakthrough in 2011, which raises the forecast for viable development of new reserves in 2012–2021 by 3.6 billion barrels of oil thanks to increase of oil recovery rates at fields in Russia.

3. Lik oil success is based on experience of its well establish management team and trading ethics that has govern the company management for the past two decades. We have grown from eastern minor energy supplier to western oriented avoidable energy supplying company, establishing strong presence in global energy market. Chairman of the Board of Directors Sergei Mikhailov /Uriy Anatolevich Member of the Board of Directors, Deputy Director General of Capital Management Company Avil Magamedov Member of the Board of Directors, Executive Vice-President, Exploration and Production Igor Tementeev LIK OIL COMPANY