REPORT FOR THE THIRD QUARTER AND NINE MONTHS ENDED SEPTEMBER 30, 2010

FOR IMMEDIATE RELEASE
Date: November 26, 2010
London

This report includes unaudited consolidated financial information of Corral Petroleum Holdings AB (publ) (“Corral”) for the third quarter and nine months ended September 30, 2010 and for the comparative periods in 2009.

Financial highlights

  • Sales revenue for the third quarter of 2010 amounted to 17,060 MSEK compared to 15,709 MSEK in the third quarter of 2009.
  • EBITDA for the third quarter of 2010 amounted to 263 MSEK compared to 449 MSEK in the third quarter of 2009.
  • Operating income for the third quarter of 2010 amounted to 16 MSEK compared to 201 MSEK in the third quarter of 2009.
  • Net income for the third quarter of 2010 amounted to 442 MSEK compared to 648 MSEK in the third quarter of 2009.
  • Cash flow used in operating activities for the third quarter of 2010 was 1,111 MSEK compared to 977 MSEK in the third quarter of 2009.
  • Weighted business refining margin for the third quarter of 2010 was 2.97 $/bbl compared to 3.43 $/bbl in the third quarter of 2009.

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