REPORT FOR THE THREE MONTHS ENDED MARCH 31, 2010

FOR IMMEDIATE RELEASE
Date: May 27, 2010
London

This report includes unaudited consolidated financial information of Corral Petroleum Holdings AB (publ) (“Corral”) for the first quarter of 2010 and for the comparative periods in 2009.

Financial highlights

  • Sales revenue for the first quarter of 2010 amounted to 19,266 MSEK compared to 14,352 MSEK in the first quarter of 2009.
  • EBITDA for the first quarter of 2010 amounted to 732 MSEK compared to 1,815 MSEK in the first quarter of 2009.
  • Operating income for the first quarter of 2010 amounted to 492 MSEK compared to an operating income of 1,573 MSEK in the first quarter of 2009.
  • Net income for the first quarter of 2010 amounted to 361 MSEK compared to a net income of 357 MSEK in the first quarter of 2009.
  • Cash flow used in operating activities for the first quarter of 2010 was 54 MSEK compared to cash flow used in operating activities of 312 MSEK in the first quarter of 2009.
  • Weighted business refining margin for the first quarter of 2010 was 4.31 $/bbl compared to 5.44 $/bbl in the first quarter of 2009.

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