Russian independent West Siberian Resources said Thursday that net profits rose 10% year-on-year to $50.5 million in the first quarter of 2009 following a $290.9 million loss in the fourth quarter of 2008. But first-quarter revenues fell to $327.6 million from $549.1 million a year earlier because of lower oil prices. Earnings before interest, taxes, depreciation and amortization rose to $99.8 million from $83.2 million.
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