REPORT FOR THE YEAR ENDED DECEMBER 31, 2009

FOR IMMEDIATE RELEASE
Date: March 5, 2010
London

This report includes unaudited consolidated financial information of Corral Petroleum Holdings AB (publ) (“Corral”) for the fourth quarter of 2009, for the year ended December 31, 2009 and for the comparative periods in 2008. Audited results for the year ended December 2009 are not yet available and may differ from the unaudited financial information presented herein.

Financial highlights

  • Sales revenue for the fourth quarter of 2009 amounted to 17,692 MSEK compared to 17,870 MSEK in the fourth quarter of 2008.
  • EBITDA for the fourth quarter of 2009 amounted to 962 MSEK compared to negative 3,547 MSEK in the fourth quarter of 2008.
  • Operating income for the fourth quarter of 2009 amounted to 713 MSEK compared to an operating loss of 3,798 MSEK in the fourth quarter of 2008.
  • Net income for the fourth quarter of 2009 amounted to 149 MSEK compared to a net loss of 4,120 MSEK in the fourth quarter of 2008.
  • Cash flow from operating activities for the fourth quarter of 2009 was 633 MSEK compared to cash flow used in operating activities of 1,552 MSEK in the fourth quarter of 2008.
  • Weighted business refining margin for the fourth quarter of 2009 was 2.85 $/bbl compared to 7.60 $/bbl in the fourth quarter of 2008.

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