VNV Global — Board/Management Information 2010

Apr 6, 2010

News Release April 6, 2010

The Nomination Committee's proposal for Board of Directors of Vostok Nafta

Vostok Nafta Investment Ltd's ("Vostok Nafta" or "the Company") Nomination Committee proposes the election of Lars O Grönstedt and C. Ashley Heppenstall for new Directors of the Board.

Lars O Grönstedt holds a BA in languages and literature from Stockholm University, and an MBA from Stockholm School of Economics. Mr. Grönstedt spent most of his professional life at Handelsbanken. He was CEO of the bank 2001 – 2006, and Chairman 2006 – 2008. Today he is, among other things, senior advisor to Nord-Stream, chairman of the Nordic Museum, and sits on the boards of the Swedish National Debt Office, MDM Bank (Moscow), the liberal think tank Timbro, and the Institute of International Economics at Stockholm University.

Ashley Heppenstall is a graduate of the University of Durham were he obtained a degree in Mathematics. Mr. Heppenstall is President & Chief Executive Officer of Lundin Petroleum AB and serves on the Board of Etrion Corp and Gateway Storage Company Limited.

Vostok Nafta's current Directors Torun Litzén and Ian H. Lundin have declined re-election.

The Nomination Committee further proposes, for the period from the upcoming AGM on May 5th 2010 until the next Annual General Meeting, the re-election of Directors Al Breach, Per Brilioth, Paul Leander-Engström, Lukas H. Lundin, William A. Rand and Robert J. Sali.

"I would like to thank Torun and Ian for their efforts while serving as Directors of the Board of Vostok Nafta. At the same time, I am delighted that the Nomination Committee is proposing Lars Grönstedt and Ashley Heppenstall as new directors. I am looking forward to work together with the proposed Board of Directors in order to keep delivering value for Vostok Nafta's shareholders", says Vostok Nafta's Chairman Lukas H. Lundin.

For further information please contact:

Robert Eriksson, Head of Investor Relations, Tel +46 8 545 015 50