Exhibit 99.1

TSAKOS ENERGY NAVIGATION LIMITED AND SUBSIDIARIES

Selected Consolidated Financial and Other Data

(In Thousands of U.S. Dollars, except share, per day and fleet data)

	Three months ended December 31						Year ended December 31
	2006			2005			2006			2005
	(Unaudited)			(Unaudited)			(Unaudited)			(Audited)
STATEMENT OF INCOME DATA
Voyage revenues	$	111,590		$	89,427		$	427,654		$	295,623
Commissions		3,822			3,441			15,441			11,604
Voyage expenses		14,035			8,282			69,065			35,970
Charter hire expense		6,149			6,126			24,461			24,317
Vessel operating expenses		23,657			14,021			76,095			52,945
Depreciation		16,980			9,069			59,058			35,697
Amortization of deferred drydocking costs		1,036			2,802			4,857			6,583
Provision for doubtful receivables		—			40			—			40
Management fees		1,951			1,312			7,103			5,460
General & Administrative expenses		1,625			1,397			3,726			3,631
Management incentive award		3,500			2,500			3,500			2,500
Foreign currency losses/(gains)		169			(31	)		279			(181	)
Amortization of deferred gain on sale of vessels		(792	)		(792	)		(3,168	)		(3,168	)
Gain on sale of vessels, net		(24,688	)		(20,496	)		(38,009	)		(34,540	)
Total expenses		47,444			27,671			222,408			140,858
Operating income		64,146			61,756			205,246			154,765
Gain on sale of non-operating vessels, net		—			4			—			10,765
Gain on sale of shares in subsidiary		25,323			—			25,323			—
Interest and finance costs, net		(14,759	)		(4,720	)		(42,486	)		(11,247	)
Interest income		2,642			3,666			7,164			7,360
Other income/(expense)		(245	)		128			1,159			112
Total other income (expenses), net		12,961			(922	)		(8,840	)		6,990
Minority interest		(2	)		—			(2	)		—
Net income	$	77,105		$	60,834		$	196,404		$	161,755
Earnings per share, basic	$	4.05		$	3.16		$	10.30		$	8.18
Earnings per share, diluted	$	4.05		$	3.16		$	10.30		$	8.17
Weighted average number of shares outstanding
Basic		19,039,914			19,232,408			19,063,846			19,772,270
Diluted		19,045,461			19,241,710			19,070,526			19,786,846

	December 31 2006			December 31 2005
	(Unaudited)			(Audited)
BALANCE SHEET DATA
Cash and cash equivalents	$	174,567		$	145,769
Current assets, including cash		222,493			191,734
Investments		14,045			21,881
Advances for vessels		261,242			150,428
Vessels at cost		1,649,928			882,210
Accumulated Depreciation		(191,281	)		(170,848	)
Vessels’ Net Book Value		1,458,647			711,362
Deferred charges		13,448			13,769
Total assets	$	1,969,875		$	1,089,174
Current portion of long-term debt		23,117			51,496
Current liabilities, including current portion of long-term debt		101,430			91,518
Long-term debt, net of current portion		1,110,544			382,023
Deferred income, net of current portion		2,626			8,447
Minority interests		2			—
Total stockholders’ equity		755,273			607,186
Total liabilities and stockholders’ equity	$	1,969,875		$	1,089,174

		Three months ended December 31						Year ended December 31
		2006			2005			2006			2005
		(Unaudited)			(Unaudited)			(Unaudited)			(Audited)
OTHER FINANCIAL DATA
Net cash from operating activities		$	48,416		$	44,469		$	214,998		$	146,903
Net cash (used in)/from investing activities		$	(7,719	)	$	23,109		$	(829,326	)	$	(108,969	)
Net cash (used in)/ from financing activities		$	(6,525	)	$	(53,019	)	$	643,126		$	(9,087	)
TCE per ship per day		$	29,796		$	35,388		$	30,154		$	28,645
Operating expenses per ship per day		$	7,811		$	7,134		$	6,979		$	6,534
Vessel overhead costs per ship per day		$	2,081		$	2,241		$	1,162		$	1,217
			9,891			9,375			8,141			7,751
FLEET DATA
Average number of vessels during period			37.0			25.3			33.8			26.1
Number of vessels at end of period			37.0			25.0			37.0			25.0
Average age of fleet at end of period	Years		5.9			6.3			5.9			6.3
Dwt at end of period (in thousands)			4,180.8			2,924.9			4,180.8			2,924.9
Time charter employment - fixed rate	Days		688			944			2,606			3,870
Time charter employment - variable rate	Days		1,535			460			3,848			1,819
Period employment (pool and coa) at market rates	Days		622			578			3,060			2,162
Spot voyage employment at market rates	Days		460			337			2,499			1,341
Total operating days			3,305			2,319			12,013			9,192
Total available days			3,401			2,324			12,335			9,527
Utilization			97.2	%		99.8	%		97.4	%		96.5	%

TCE represents voyage revenue less voyage expenses. Commission is not deducted.

Operating expenses per ship per day exclude the three chartered-in vessels and the vessel bare-boat chartered out.

TSAKOS ENERGY NAVIGATION LIMITED AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

DECEMBER 31, 2006 and DECEMBER 31, 2005

(Expressed in thousands of U.S. Dollars - except per share data)

	December 31, 2006			December 31, 2005
	(Unaudited)			(Audited)
ASSETS
CURRENT ASSETS:
Cash and cash equivalents	$	174,567		$	145,769
Restricted cash		4,347			271
Receivables-Trade accounts receivable, net		15,425			17,620
Insurance claims		1,865			652
Due from related companies		—			1,736
Advances and other		5,480			2,750
		22,770			22,758
Short-term investments		—			10,240
Inventories		8,431			5,406
Prepaid insurance and other		3,020			2,363
Financial instruments-Fair value		9,358			4,927
Total current assets		222,493			191,734
INVESTMENTS		14,045			21,881
FIXED ASSETS:
Advances for vessels under construction		261,242			150,428
Vessels		1,649,928			882,210
Accumulated depreciation		(191,281	)		(170,848	)
Vessels’ Net Book Value		1,458,647			711,362
Total fixed assets		1,719,889			861,790
DEFERRED CHARGES, net		13,448			13,769
Total assets	$	1,969,875		$	1,089,174
LIABILITIES AND STOCKHOLDERS’ EQUITY
CURRENT LIABILITIES:
Current portion of long-term debt	$	23,117		$	51,496
Accounts payable-Trade payables		20,211			13,489
Due to related companies		2,414			1,385
Other		2,044			542
		24,669			15,416
Accrued liabilities		18,218			10,139
Accrued bank interest		13,705			5,478
Unearned revenue		12,075			5,332
Deferred income, current portion		5,821			3,168
Financial instruments—Fair value		3,825			489
Total current liabilities		101,430			91,518
		—
LONG-TERM DEBT, net of current portion		1,110,544			382,023
DEFERRED INCOME, net of current portion		2,626			8,447
MINORITY INTEREST		2			—
STOCKHOLDERS’ EQUITY:
Common stock, $ 1.00 par value; 100,000,000 shares authorized at December 31, 2006 and December 31, 2005; 19,039,871 and 19,177,195 issued and outstanding at December 31, 2006 and December 31, 2005, respectively.		19,040			19,177
Additional paid-in capital		267,430			269,237
Accumulated other comprehensive income		4,718			3,067
Retained earnings		464,085			315,705
Total stockholders’ equity		755,273			607,186
Total liabilities and stockholders’ equity	$	1,969,875		$	1,089,174

TSAKOS ENERGY NAVIGATION LIMITED AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF INCOME

FOR THE YEARS ENDED DECEMBER 31, 2006 AND 2005

(Expressed in thousands of U.S. Dollars - except share and per share data)

	Year ended December 31,
	2006			2005
	(Unaudited)			(Audited)
VOYAGE REVENUES:	$	427,654		$	295,623
EXPENSES:
Commissions		15,441			11,604
Voyage expenses		69,065			35,970
Charter hire expense		24,461			24,317
Vessel operating expenses		76,095			52,945
Depreciation		59,058			35,697
Amortization of deferred dry-docking costs		4,857			6,583
Provision for doubtful receivables		—			40
Management fees		7,103			5,460
General and administrative expenses		3,726			3,631
Management incentive award		3,500			2,500
Foreign currency losses/(gains)		279			(181	)
Amortization of deferred gain on sale of vessels		(3,168	)		(3,168	)
Gain on sale of vessels		(38,009	)		(34,540	)
Total expenses		222,408			140,858
Operating income		205,246			154,765
OTHER INCOME (EXPENSES):
Gain on sale of non-operating vessels		—			10,765
Gain on sale of shares in subsidiary		25,323			—
Interest and finance costs, net		(42,486	)		(11,247	)
Interest income		7,164			7,360
Other, net		1,159			112
Total other income (expenses), net		(8,840	)		6,990
MINORITY INTEREST		(2	)		—
Net Income	$	196,404		$	161,755
Earnings per share, basic	$	10.30		$	8.18
Earnings per share, diluted	$	10.30		$	8.17
Weighted average number of shares, basic		19,063,846			19,772,270
Weighted average number of shares, diluted		19,070,526			19,786,846

TSAKOS ENERGY NAVIGATION LIMITED AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)

FOR THE THREE MONTHS ENDED DECEMBER 31, 2006 AND 2005

(Expressed in thousands of U.S. Dollars - except share and per share data)

	Three months ended December 31,
	2006			2005
VOYAGE REVENUES:	$	111,590		$	89,427
EXPENSES:
Commissions		3,822			3,441
Voyage expenses		14,035			8,282
Charter hire expense		6,149			6,126
Vessel operating expenses		23,657			14,021
Depreciation		16,980			9,069
Amortization of deferred dry-docking costs		1,036			2,802
Provision for doubtful receivables		—			40
Management fees		1,951			1,312
General and administrative expenses		1,625			1,397
Management incentive award		3,500			2,500
Foreign currency losses/(gains)		169			(31	)
Amortization of deferred gain on sale of vessels		(792	)		(792	)
Gain on sale of vessels		(24,688	)		(20,496	)
Total expenses		47,444			27,671
Operating income		64,146			61,756
OTHER INCOME (EXPENSES):
Gain on sale of non-operating vessels		—			4
Gain on sale of shares in subsidiary		25,323
Interest and finance costs, net		(14,759	)		(4,720	)
Interest income		2,642			3,666
Other, net		(245	)		128
Total other income (expenses), net		12,961			(922	)
MINORITY INTEREST:		(2	)		—
Net Income	$	77,105		$	60,834
Earnings per share, basic	$	4.05		$	3.16
Earnings per share, diluted	$	4.05		$	3.16
Weighted average number of shares, basic		19,039,914			19,232,408
Weighted average number of shares, diluted		19,045,461			19,241,710

TSAKOS ENERGY NAVIGATION LIMITED AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY (UNAUDITED)

FOR THE YEARS ENDED DECEMBER 31, 2005 AND 2006

(Expressed in thousands of United States Dollars - except share and per share data)

	Comprehensive Income (Loss)			Common Stock			Additional Paid-in Capital			Accumulated Other Comprehensive Income			Retained Earnings			Total Stock- Holders’ Equity
BALANCE, January 1, 2005				$	20,176		$	282,451		$	1,136		$	215,758		$	519,521
Net income		161,755												161,755			161,755
- Exercise of stock options					18			203									221
- Repurchase and cancellation of common stock (1,016,790 shares)					(1,017	)		(13,417	)					(23,322	)		(37,756	)
- Cash dividends declared and paid ($1.95 per share)														(38,486	)		(38,486	)
- Fair value of financial instruments		4,265									4,265						4,265
- Reclassification of gains on undesignated cash flow hedges		(2,334	)								(2,334	)					(2,334	)
Comprehensive income	$	163,686
BALANCE, December 31, 2005				$	19,177		$	269,237		$	3,067		$	315,705		$	607,186
Net income		196,404												196,404			196,404
- Exercise of stock options					6			65									71
- Repurchase and cancellation of common stock (143,200 shares)					(143	)		(1,872	)					(3,246	)		(5,261	)
- Cash dividends declared and paid ($2.35 per share)														(44,778	)		(44,778	)
- Fair value of financial instruments		3,666									3,666						3,666
- Fair value of investments		3,072									3,072						3,072
- Reclassification of gains on undesignated cash flow hedges		(5,087	)								(5,087	)					(5,087	)
Comprehensive income	$	198,055
BALANCE, December 31, 2006				$	19,040		$	267,430		$	4,718		$	464,085		$	755,273

The accompanying notes are an integral part of these consolidated financial statements.

F-4

TSAKOS ENERGY NAVIGATION LIMITED AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS

FOR THE YEAR AND THE THREE MONTHS ENDED DECEMBER 31, 2006 AND 2005

(Expressed in thousands of U.S. Dollars)

	Year ended December 31,						Three months ended December 31,
	2006			2005			2006			2005
	(Unaudited)			(Audited)			(Unaudited)			(Unaudited)
Cash Flows from Operating Activities:
Net income	$	196,404		$	161,755		$	77,114		$	60,834
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation		59,058			35,697			16,980			9,069
Amortization of deferred dry-docking costs		4,857			6,583			1,036			2,801
Amortization of loan fees		1,495			1,034			640			583
Amortization of deferred income		(3,168	)		(4,842	)		(793	)		(792	)
Change in fair value of interest rate swaps		556			(2,584	)		1,873			(1,370	)
Change in fair value of investments		(4,018	)		(2,122	)		(3,490	)		(2,122	)
Payments for dry-docking		(4,903	)		(9,279	)		(1,374	)		1,579
Gain on sale of vessels		(38,009	)		(45,305	)		(24,688	)		(20,500	)
Gain on sale of shares in subsidiary		(25,323	)		—			(25,323	)		—
Minority Interest		2			—			2			—
Gain on sale of investments		(561	)		—			(66	)		—
(Increase) Decrease in:
Receivables		(12	)		7,731			3,913			(4,718	)
Inventories		(3,025	)		(1,347	)		906			674
Prepaid insurance and other		(657	)		(16	)		2,524			1,793
Increase (Decrease) in:
Accounts payable		9,253			(3,632	)		(6,092	)		(7,319	)
Accrued liabilities		16,306			4,333			(153	)		3,979
Unearned revenue		6,743			(1,103	)		5,407			(22	)
Net Cash from Operating Activities		214,998			146,903			48,416			44,469
Cash Flows from Investing Activities:
Advances for vessels under construction and acquisitions		(152,767	)		(70,705	)		5,036			(26,084	)
Vessel acquisitions and/or improvements		(813,243	)		(175,429	)		(106,837	)		(1,722	)
Investments		(4,992	)		(19,999	)		(1	)		(4,326	)
Proceeds from sale of investments		27,647			—			11,545			—
Proceeds from sale of shares in subsidiary		25,323			—			25,323			—
Proceeds from sale of vessels		88,706			157,164			57,215			55,241
Net Cash (used in) from Investing Activities		(829,326	)		(108,969	)		(7,719	)		23,109
Cash Flows from Financing Activities:
Proceeds from long-term debt		992,282			330,685			118,000			75,450
Financing costs		(2,972	)		(2,603	)		(692	)		(1,057	)
Payments of long-term debt		(292,140	)		(262,330	)		(96,301	)		(98,387	)
Proceeds from exercise of stock options		71			221			12			48
(Increase)/decrease in restricted cash		(4,076	)		1,182			(3,216	)		(249	)
Repurchase and cancellation of common stock		(5,261	)		(37,756	)		(528	)		(9,498	)
Cash dividend		(44,778	)		(38,486	)		(23,800	)		(19,326	)
Net Cash from (used in) Financing Activities		643,126			(9,087	)		(6,525	)		(53,019	)
Net increase in cash and cash equivalents		28,798			28,847			34,172			14,559
Cash and cash equivalents at beginning of period		145,769			116,922			140,395			131,210
Cash and cash equivalents at end of period	$	174,567		$	145,769		$	174,567		$	145,769