October 21

JSC “SNGK”, a subsidiary of Irkutsk Oil Company has obtained a license for exploration and production at the Angaro-Ilimsky oil and gas condensate field. The field is located in the Ust’-Udinsky and Bratsky districts of in the Irkutsk region of Eastern Siberia, Russia.

JSC “SNGK”, a subsidiary of Irkutsk Oil Company has obtained a license for exploration and production at the Angaro-Ilimsky oil and gas condensate field. The field is located in the Ust’-Udinsky and Bratsky districts of in the Irkutsk region of Eastern Siberia, Russia. License is registered with RosGeolFond on October 18, 2010 as a result of the recent discoveries within the Angaro-Ilimsky license area.

JSC “SNGK” conducted geological surveys and exploration at the Angaro-Ilimsky license area since 2003. Exploration drilling resulted in commercial gas flow rates and four prospective reservoirs were identified.

The State Reserves Committee has approved initial reserves of new field on September 15, 2010 in amount of 33 billion cubic meters of gas. License requirements call for additional drilling of 1 exploration well by 2015 and start of production by 2018.

Russian-Japanese joint-ventures find oil and gas in Irkutsk Region INK participates in the tender selection under the Kyoto Protocol