OREANDA-NEWS. November 21, 2007. OAO NOVATEK today released its consolidated interim condensed financial information for the three and nine months ending September 30, 2007, prepared in accordance with International Financial Reporting Standards ("IFRS"), the NOVATEK press service announced. In the three and nine months of 2007, the profit attributable to shareholders of OAO NOVATEK increased by RUR 1.033 million and RUR 2.380 million, respectively, compared to the corresponding periods in 2006, due to a combination of increased prices for natural gas and liquids and an increase in liquids sales volumes.

In the third quarter of 2007, natural gas sales volumes decreased, compared to the corresponding period in 2006, primarily due to a decrease in volumes sold to wholesale traders. In the 2007 period, liquids (stable gas condensate, liquefied petroleum gas, crude oil and oil products) sales volumes increased compared to the 2006 period, primarily due to increased gas condensate and crude oil production.

In the nine month period of 2007, natural gas sales volumes increased, compared to the corresponding period in 2006, due to an increase in purchases and a decrease in natural gas inventory volumes. For the 2007 period, liquids sales volumes increased compared to the 2006 period, due to a combination of increased production and a decrease in net volumes of stable gas condensate recorded as goods in transit.

The full set of consolidated interim condensed IFRS financial information, the notes thereto, and the Management's Discussion and Analysis of the Financial Condition and Results of Operations are available on the Company's web site ( www.novatek.ru).