Financial Highlights

• Revenue up 33% to $104.5m (2009: $78.6m)
• Operating profit up 9% to $48.6m (2009: $44.5m)
• Earnings per share 20.7 cents (2009: 20.2 cents)
• Operating cash flow up 12% to $67.2m (2009: $59.9m)
• Record period end cash of $107.2m (2009: $54.1m)
• Capital expenditure up 32% to $68.3m (2009: $51.6m)
• Interim dividend declared of 2.4p per share (2009: 2.3p per share)

Operational Highlights

• Production increased 15% to 11,689 boepd (2009: 10,191 boepd)
• Well test results on Koshekhablskoye field rehabilitation in Russia continue to exceed expectations
• Progress made on the Company’s exploration programmes including expansion of Hungarian portfolio