Integra Group Acquires Russian Oil & Gas Company, TNGF

Integra Group, a corporation formed to pursue the consolidation of Russian oilfield service companies, announced a US$30 million acquisition of a 75.01% controlling stake in JSC Tyumenneftegeophysica (TNGF). TNGF is a Russian leader in the field of geophysical surveys and seismic services, with significant order flow confirmed through 2006.

Integra's ongoing strategy is to continue consolidating and investing in the group's growing portfolio of oilfield service companies. Having started operations in late 2004, Integra ended 2005 with pro forma revenues of approximately US$240 million and about 8,000 staff.

Felix Lyubashevskiy, CEO of Integra and Co-Chairman of the Association of Oil and Gas Equipment Producers said, ".NGF is an excellent addition to the Integra portfolio and delivers an industry leading oil and gas exploration offer to our clients. As we consolidate TNGF and other recent acquisitions, we will upgrade the portfolio's equipment and technology, raise service standards, and continue to look at acquisition targets that can deliver market-leading solutions to our clients."

"With more of the Russian oil majors outsourcing their oilfield services, the demand for independent companies' services is increasing. The addition of TNGF allows Integra to cover the full spectrum of oilfield services used by large oil producers operating in Russia."

Established in 2004, Integra Group is an oilfield service company active in Russia. Integra is a fast-growing consolidator in the Russian oilfield service sector through its strategy to acquire existing Russian companies that benefit from its provision of capital, industry knowledge, marketing access, new technology and increasing economies of scale.

The company's subsidiaries include: LLC BK Alliance (Usinsk, Komi); LLC BK Sever (Nyagan, KHMAO); KRS (Nizhnevartovsk, KHMAO); JSC Stavropolneftegeophysica; LLC Geophysservice; JSC Purgeophysica; JSC Nizhnevartovskneftegeophysica; CJSC Uralmash; LLC VNIIBT.

Integra is backed by Brookline Partners LLC, a New York based investment firm managed by John Fitzgibbons, Integra's Executive Chairman.

JSC Tyumenneftegeophysica (.NGF) conducts oil and gas seismic exploration and research and development in Russia and Kazakhstan. Clients include Surgutneftegas, .NK-BP and LUKOIL. Forecasted revenue for 2005 is US$38 million with EBITDA of US$5.7 million.