The Management Board of Grupa LOTOS S.A. herby reports that it has been notified today that on that on December 17th 2007 Petrobaltic S.A. (in which Grupa LOTOS S.A. holds a 69% equity interest) commenced commercial production at the B8 reservoir, situated nearly 68 kilometers off the shore line, north of the Hel peninsula. Oil is present in the Cambrian strata, 2,600 under the sea bed. Oil from the reservoir will be produced from three production wells within the next six months. Then, on the basis of data obtained during the production work, decisions will be made on further actions to be taken in relation to the manner of the field development and continued production. Legal basis for publishing the report: Art. 56.1.1 of the Public Offering Act – inside information.
Commencement of Production of the B8 Reservoir by Petrobaltic S.A.
Report no. 96/20052007-12-19