RussNeft Acquired 62-Percent Stake of Tomsk Neft.

NK RussNeft OAO has acquired 62-percent stake of voting shares of Tomsk Neft ZAO. The shares were entered onto RussNeft account at the depository onthe 9^th of June 2005, according to the information of the Company. Just to remind that beginning from April the oil of Multitype Company Aganneftegasgeologiya OAO and Tomsk Neft  has been consolidated as part of RussNeft. Nevertheless RussNeft has not commented on this news. Tomsk Neft is developing Yuzhno-Myldzhinsk area, including 2 oil fields named Verkhnesalatskoye and Yuzhno- Myldzhinskoye, as well as one gas condensate field called Rechnoye. In 2004 the Company produced 190 thousand tons of crude oil. Some time ago a subsidiary of China CNPC aspired after 100% stake of the Company. In 2004 RussNeft produced 10 million tons. It comprises more than 20 extracting enterprises, the biggest being Belkamneft and Varieganneft. This year RussNeft has bought a retail network named Association Grand ZAO owing 64 petrol stations throughout Moscow and the Moscow oblast.

According the Central Dispatcher Control of the Fuel and Energy Complex during the five months of this year RussNeft produced 4.174 million tons of crude oil. According to President of the Company Mikhail Gutseriev its current turnover amounts to $3 billion. The shareholders of the Company are M.Gutseriev and some of his business partners.