During the period from November 20th to November 24th 2006 in accordance with Order 80 issued on 22/03/06 by the Federal Nature Management Supervisory Service (Rosprirodnadzor), and Order 493-p issued on 30/10/06 by the Rosprirodnadzor Department for the Murmansk Region, a target inspection was performed to verify the compliance of Severneftegas OJSC with mandatory requirements in respect of geological survey, rational utilization and conservation of mineral resources, as well as compliance with the Instruction No. 1168/02 dd. 27/10/06 issued in the course of the previous inspection. The conclusions of the inspection were as follows: 1. The instructions issued in the course of the previous inspection have been complied with in full; 2. Neither irregularities in geological surveys carried out by Severneftegas OJSC nor any non-compliance with the requirements in respect of rational utilization and conservation of mineral resources have been discovered.