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FORM 6-K

 

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

Report of Foreign Issuer

November 9, 2005

 

Pursuant to Rule 13a-16 or 15d-16 of

The Securities and Exchange Act of 1934

 

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OAO TATNEFT

(also known as TATNEFT)

(name of Registrant)

 

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75 Lenin Street

Almetyevsk, Tatarstan 423450

Russian Federation

(Address of principal executive offices)

 

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Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40F.

 

Form 20-F      X            Form 40-F              

 

Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

 

Yes                      No      X    

 

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OAO Tatneft announces a delay in the publication of its consolidated U.S. GAAP financial statements for 2004 and in the filing of its Annual Report on Form 20-F for 2004 with the U.S. Securities and Exchange Commission, as well as à delay in the publication of its consolidated U.S. GAAP financial statements for the first six months of 2005

 

Almetievsk, November 8, 2005

 

OAO Tatneft (the “Company”) today announces a delay in the publication of its consolidated U.S. GAAP financial statements for 2004 (the “U.S. GAAP financial statements for 2004”) and in the filing of its Annual Report on Form 20-F for 2004 (the “Form 20-F”) with the U.S. Securities and Exchange Commission (the “SEC”).

 

The audit of the U.S. GAAP financial statements for 2004 did not commence until September 2005 due to the delay in the completion of the audit and publication of the Company’s consolidated U.S. GAAP financial statements for 2003, which were published by the Company on July 14, 2005.

 

The audit of the U.S. GAAP financial statements for 2004 is now underway, and the Company currently expects the audit to be completed at the beginning of 2006. Immediately upon the receipt of the auditors’ report with respect to the U.S. GAAP financial statements for 2004, the Company expects to file the Form 20-F with the SEC.

 

Due to the delay in the publication of the U.S. GAAP financial statements for 2004, the Company is delaying the publication of its consolidated U.S. GAAP financial statements for the first six months of 2005. Consistent with past practice, however, the Company is publishing unaudited unconsolidated financial statements (balance sheet and profit and loss statement) of the Company for the first nine months of 2005 prepared in accordance with Russian accounting regulations (“RAR”).

 

For nine months of 2005, the Company’s unconsolidated revenues under RAR were 129.1 billion rubles, and its unconsolidated net income under RAR was 29.5 billion rubles, an increase of 20.3% and 52.8% as compared to unconsolidated revenues and net income, respectively, under RAR for nine months of 2004. For nine months of 2005, OAO Tatneft produced 19.1 million tons of oil, an increase of 1.1% as compared to the same period in 2004.

 

Press-Service of OAO Tatneft

 

Forward-looking statements: This press release contains certain forward-looking statements of OAO Tatneft. OAO Tatneft can give no assurance that any of the events mentioned in such statements will occur, or as to the precise timing of their occurrence.

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BALANCE SHEET

at September 30, 2005

 

				CODES
Form N1		OKUD		710001
		Date (year, month, date)		2005/09/30
Company: Joint stock company OAO “TATNEFT”		OKPO		136352
Taxpayer identification number		INN		1644003838
Field of activity: extraction, processing and marketing of crude oil		OKDP		11210
Legal form/property form:		OKOPF		47
Unit of measurement: thousand of RR		OKEI		384
Address: Almetevsk, Lenina st., 75

 

ASSETS		Line code		At beginning of reporting year		At end of reporting year
1		2		3		4
I. NON-CURRENT ASSETS
Intangible assets		110		100,265		86,379
Fixed assets		120		52,510,057		53,092,847
Construction in progress		130		5,037,530		5,106,344
Income-bearing lease investments		135		—		—
Long-term financial investments		140		17,127,255		22,976,898
Deferred tax assets		145		—		—
Other non-current assets		150		—		—
Total Section I		190		74,775,107		81,262,468
II. CURRENT ASSETS
Inventories		210		9,087,020		10,382,482
including:
raw, materials and other inventories		211		1,430,773		1,292,336
livestock		212		359		229
work in progress		213		110,580		337,247
finished goods and goods for resale		214		4,245,755		4,532,377
goods dispatched		215		1,611,188		2,536,593
expenses related to future periods		216		1,688,365		1,683,700
other inventories and expenses		217		—		—
Value Added Tax on goods purchased		220		4,100,001		3,161,233
Accounts receivable
(payment expected beyond 12 months of the reporting date)		230		3,505,526		4,336,420
including:
buyers and customers		231		286,206		599,335
Accounts receivable
(payment expected within 12 months of the reporting date)		240		24,167,984		28,180,357
including:
buyers and customers		241		15,708,365		17,859,106
Short-term investments		250		20,035,935		15,483,726
Monetary assets		260		3,810,907		14,649,670
Other current assets		270		15		—
Total Section II		290		64,707,388		76,193,888
TOTAL SECTIONS I and II		300		139,482,495		157,456,356

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EQUITY AND LIABILITIES		Line code		At beginning of reporting year		At end of reporting year
1		2		3		4
III. EQUITY AND RESERVES
Charter capital		410		2,326,199		2,326,199
Treasury shares		411		—		—
Additional capital		420		39,672,747		39,453,540
Legal reserve		430		542,299		116,310
including:
reserves and provisions formed in accordance with legislation		431		116,310		116,310
reserves and provisions formed in accordance with charter documents		432		425,989		—
Retained earnings (outstanding losses)		470		62,445,634		90,026,026
Total Section III		490		104,986,879		131,922,075
IV. NON-CURRENT LIABILITIES
Borrowings and bank loans		510		11,125,929		7,690,839
Deferred tax liabilities		515		1,530,684		2,001,205
Other non-current liabilities		520		—		—
Total Section IV		590		12,656,613		9,692,044
V. CURRENT LIABILITIES
Borrowings and bank loans		610		9,112,476		826936
Accounts payable		620		11,689,082		14243013
including:
suppliers and contractors		621		4,815,092		2,327,872
payable to staff		622		351,414		403,640
payable to state non-budget funds		623		98,850		114,875
payable to budget (taxes)		624		5,681,803		6,256,789
other creditors		625		741,923		5,139,837
Payable to participants (shareholders)		630		20,311		22,270
Income of future periods		640		239,530		102,211
Reserves for future expenses and payments		650		777,604		647,807
Other current liabilities		660		—		—
Total Section V		690		21,839,003		15,842,237
TOTAL SECTIONS III, IV, V		700		139,482,495		157,456,356

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REFERENCE ON ITEMS ACCOUNTED ON OFF-BALANCE SHEET ACCOUNTS

 

Narrative		Line code		At beginning of reporting year		At end of reporting year
1		2		3		4
Rented fixed assets		910		4,582,971		4,940,881
(thereof by leasing)		911		3,309,649		3,342,902
Working and fixed assets received for storing		920		256,175		227,565
Goods on commission		930		—		—
Bad debts of insolvent debtors written off to losses		940		1,186,468		1,030,951
Securities of liabilities and payments received		950		—		—
Securities of liabilities and payments issued		960		1,988,857		2,366,542
Housing stock depreciation		970		19,064		19,463
Depreciation of auxiliary engineering facilities and other similar items		980		2,436		1,694
Intangible assets received for use		990		—		—

 

PROFIT AND LOSS ACCOUNT

for nine months ended September 30, 2005

 

				CODES
		Form 2 on OKUD		0710002
		Date (year, month, date)		2005/9/30
Company: Joint stock company OAO “TATNEFT”		OKPO		136352
Taxpayer identification number		INN		1644003838
Field of activity: extraction, processing and marketing of crude oil		OKDP		11210
Legal form/property form:
		OKOPF/OKFS		47/17
Unit of measurement: thousand of RR		OKEI		384

 

Narrative		Line code		At beginning of reporting year			At end of reporting year
1		2		3			4
I. Income from and expenses on ordinary activity
Sales of goods, products, work, services less Value Added Tax, excises, and other similar compulsory payments)		010		129,055,500			107,264,055
Cost of goods, products, work, services sold		020		(77,645,185	)		(69,755,264	)
Total revenue		029		51,410,315			37,508,791
Sales expenses		030		(7,631,190	)		(7,916,316	)
General business expenses		040		—			—
Gross profit (loss) from sales		050		43,779,125			29,592,475
II. Other income and expenses
Interest receivable		060		598,927			426,886
Interest payable		070		(596,959	)		(1,106,027	)
Participation in other companies		080		548,274			406,915
Other operating income		090		148,455,778			96,103,903
Other operating expenses		100		(149,946,892	)		(97,246,614	)
Non-sale profit		120		2,138,374			4,090,488
Non-sale losses		130		(50,03,350	)		(5,137,226	)
Income (loss) before taxes		140		39,973,277			27,130,800
Deferred tax assets		141		—			—
Deferred tax liabilities		142		(470,521	)		(1,213,281	)
Current income tax		150		(10,033,248	)		(6,636,155	)
		180		—			—
Retained earnings (loss) of the reporting year		190		29,469,508			19,281,364
REFERENCE.
Permanent deferred tax liabilities (assets)		200		(951,515	)		(1,170,295	)
Basic income (loss) per common share		202		—			—
Diluted income (loss) per common share		203		—			—

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SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

 

Date: November 9, 2005