REPORT FOR THE THREE MONTHS ENDED MARCH 31, 2011

FOR IMMEDIATE RELEASE
Date: May 27, 2011
London

This report includes unaudited consolidated financial information of Corral Petroleum Holdings AB (publ) (“Corral”) for the first quarter of 2011 and for the comparative period in 2010

Financial highlights

  • Sales revenue for the first quarter of 2011 amounted to 22,039 MSEK compared to 19,266 MSEK in the first quarter of 2010.
  • EBITDA for the first quarter of 2011 amounted to 1,637 MSEK compared to 732 MSEK in the first quarter of 2010.
  • Operating income for the first quarter of 2011 amounted to 1,394 MSEK compared to an operating income of 492 MSEK in the first quarter of 2010.
  • Net income for the first quarter of 2011 amounted to 1,053 MSEK compared to a net income of 361 MSEK in the first quarter of 2010.
  • Cash flow used in operating activities for the first quarter of 2011 was 1,414 MSEK compared to cash flow used in operating activities of 54 MSEK in the first quarter of 2010.
  • Weighted business refining margin for the first quarter of 2011 was 3.45 $/bbl compared to 4.31 $/bbl in the first quarter of 2010.

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