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Licence for Development of B4 Natural Gas Reservoir
Report no. 96/20052007-05-25

The Management Board of Grupa LOTOS S.A. hereby reports that yesterday Przedsiębiorstwo Poszukiwań i Eksploatacji Złóż Ropy i Gazu Petrobaltic S.A. (a 69%-held subsidiary of Grupa LOTOS S.A.) received a licence issued by the Minister of Environmental Protection on May 11th 2007 under which it may produce natural gas from the B4 gas field. The effective term of the licence is 25 years. The operations under the licence should commence within 24 months from the licence date. On May 11th 2007, the Minister of Environmental Protection executed with Przedsiębiorstwo Poszukiwań i Eksploatacji Złóż Ropy i Gazu Petrobaltic S.A. a usufruct agreement concerning production of natural gas from the B4 reservoir. The agreement defines the conditions to be met by the company when using the licence. The B4 reservoir is located within Poland’s exclusive economic zone of the Baltic Sea, approx. 104 km north-east off Łeba. The natural gas reserves amount to aprox 2 BCM (billion cubic meters). Legal basis for the publication of this report: Art. 56.1.1 of the Act on Public Offering – Inside Information