Oil Production Stock Payment

RNS Number:5696J
ENI Lasmo PLC
28 September 2006



          ENI LASMO PLC - OIL PRODUCTION STOCK ("OPS") PAYMENT

The payment on the OPS for the six months ended 30 June 2006 will be made on 31
October 2006 at the rate of 12.2094 pence per unit to holders on the register on
6 October 2006. Payment for the six months ended 31 December 2005 was made at
the rate of 9.6438 pence per unit.

Notes to editors

1.    OPS units were issued in 1976 to help fund the LASMO share of the Ninian 
      field development costs. The Ninian field commenced production on 
      23 December 1978 and the OPS holders have been receiving half yearly
      payments for some 20 years. The OPS is governed by the requirements of the 
      Trust Deed, which was issued in August 1976 and payments are subject to 
      audit by independent accountants.

2.    The OPS payment is calculated on 8.75 percent of the sales value of 
      production from 8.62608 percent of the Ninian field after deducting 
      Government royalties, field operating costs (as adjusted for incremental 
      costs associated with tariffing assets) and insurance costs, incurred in 
      connection with the production, conveying and treatment of petroleum won 
      from the field.

3.    The net value is adjusted for OPS units repurchased and cancelled by LASMO 
      and the payment per share is calculated on the number of units currently 
      outstanding (as at 20 September 2006 the number of units outstanding was 
      5,562,990, the original number of units issued being 7,500,000).

4.    The OPS is repayable at par (10 pence per unit) at the earliest of:

      *   the termination of production from the field,

      *   the date when the quantity of petroleum won and saved for the field
          attributable to the OPS interest reaches 120 million barrels, or

      *   31 December 2010.

5.    At 30 June 2006 cumulative production from the Ninian field attributable 
      to the OPS interest amounted to 102.2 million barrels (31 December 2005: 
      101.7 million barrels). Production attributable to the OPS interest for
      the 6 months ended 30 June 2006 was 427,698 barrels (6 months ended 
      31 December 2005: 401,013 barrels).

6.    The licence interest in Licence P.199 Block 3/8a in the North Sea (which 
      includes the Ninian field), was sold to Agip Oil Britain Limited 
      (formerly known as Sun Oil Britain Limited since liquidated and whose 
      assets are held by Eni UK Limited, formerly Agip (U.K.) Limited) and 
      Ranger Oil (U.K.) Limited in 1994. However, as far as holders of the OPS 
      are concerned, the terms and conditions governing the OPS remain 
      unchanged.

Enquiries: Dario Rona
           Corporate Accountant 
           Eni UK Limited

           Tel no. 020 7344 6295



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