Ukrnafta announces preliminary UAS financial results for the nine month ending 30 September 2011

Kiev – Ukrnafta PJSC (UX: UNAF, hereinafter “Ukrnafta” or “the Company”) announces today its preliminary financial results for the nine months ending 30 September 2011 according to Ukrainian accounting standards.

Gross profit for the third quarter was UAH 1,308 mn, increasing 27% quarter-on-quarter.

Oil and condensate accounted for 68% of this amount, contributing UAH 883 mn. to gross profit (a 29% increase on the second quarter).

Gross profit from sales of other products (including petroleum products, LPG, light fraction and ammonia), increased 32% quarter-on-quarter to UAH 618 mn.

The contribution of the Company's gas production to its gross profit remained negative in the third quarter, amounting to UAH 193 mn.

Profit before tax for the third quarter was UAH 1,021 mn, a 31% increase to the second quarter. Profit before tax for the nine months was UAH 1,845 million compared to UAH 824 million reported at the half year.

The preliminary financial results do not take into account corporate profit tax for the third quarter of 2011. Adjusted financial results will be posted following the submission of the declaration for corporate profit tax (the legislative deadline is 40 calendar days after the end of the quarter).

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