Timan Oil & Gas

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Address
33 St James's Square
London SW1Y 4JS
United Kingdom
Tel +44 (0) 207 661 9315
Fax +44 (0) 207 661 9515
Web http://www.timanoilandgas.com
Email info@timanoilandgas.plc.uk

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Capex

Reserves

Miller and Lents, Ltd, International Oil and Gas Consultants, has prepared the Competent Person's Report for the purpose of London Stock Exchange AIM listing. CPR report was prepared in accordance with the Guidance Note for Mining, Oil and Gas Companies issued by the London Stock Exchange in March 2006 (Guidance). The reserves were evaluated using the standards established by the Society of Petroleum Engineers Inc. and the World Petroleum Congresses.

Miller & Lents evaluated two of Timan's fields located in the Timan-Pechora Basin of the Komi Republic of Russia:

• Nizhnechutinskoye Field – MMbbls 191,300 (2P)
• Khudayelskoye Field – MMbbls 147,600 (contingent resources)

Miller & Lents also reviewed prospective resource leads on licenses located in the Russian sector of the Caspian Sea offshore from Dagestan, and calculated the estimate of 500MMbbls of potential resources undiscounted for risk. Miller and Lents currently accord it a very high risk and suggest that further studies are required.

Who's Who

Alexander Kapalin
Chief Executive Officer
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Offices

United Kingdom
Head Office
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