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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Eni Lasmo Opsus | LSE:LSMO | London | Ordinary Share | GB0005316301 | OIL PRODUCTION STK 10P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 30.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:3519Q ENI Lasmo PLC 2 October 2003 Embargoed for release: 7:00am, 2 October 2003 LASMO OIL PRODUCTION STOCK ("OPS") PAYMENT The payment on the OPS for the six months ended 30 June 2003 will be made on 31 October 2003 at the rate of 4.822 pence per unit to holders on the register on 10 October 2003. Payment for the six months ended 31 December 2002 was made at the rate of 3.6949 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 13 March 2003 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 2003 cumulative production from the Ninian field attributable to the OPS interest amounted to 99.8 million barrels (31 December 2002: 99.3 million barrels). Production attributable to the OPS interest for the 6 months ended 30 June 2003 was 468,010 barrels (6 months ended 31 December 2002: 449,415 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 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: Joyce Gowans Chief Accountant Eni UK Limited Tel no. 01224 402 189 This information is provided by RNS The company news service from the London Stock Exchange END MSCURSOROBRKOAR
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