Irkutsk Oil has pioneered oil production in Irkutsk region and was the largest oil producer in the region from 2000 to 2009. For the first six months of 2010, the Company produced an average of approx. 13,000 boepd, and was the fourth largest producer in the Eastern Siberia after Russian oil majors - Rosneft, TNK-BP and Surgutneftegas and well ahead of any independent oil company in the region.

Since inception, Irkutsk Oil Company has demonstrated an average production growth rate of 24%, which was mainly driven by drilling activity and success in exploration.

Irkutsk Oil Production 2007-1H2010 Irkutsk Oil Field Activities 2007-1H2010

In addition to new wells drilling, the Company also relied on reactivation of old Soviet wells and application of enhanced oil recovery techniques including hydraulic fracturing as well as acid, thermal, gas and chemical treatments.