With reference to Current Report No. 51/2006 of August 24th 2006, the Management Board of Grupa LOTOS S.A. hereby reports that yesterday it was notified that on November 7th 2006 Przedsiębiorstwo Poszukiwań i Eksploatacji Złóż Ropy i Gazu Petrobaltic S.A., its subsidiary, received decision by the Minister of the Environment whereby its Licence No. 36/2001/p of December 14th 2001 for exploration and prospecting for oil and gas in the Gotland region, situated in the eastern part of the marine area of the Republic of Poland, has been extended by three years (until December 14th 2010). Within the “Gotland” region B23 prospect is located, situated approx. 160 km north of Gdańsk. Based on geological surveys of the area, its recoverable hydrocarbon reserves are estimated at approx. 15 million cubic metres. In addition, on November 7th 2006, Przedsiębiorstwo Poszukiwań i Eksploatacji Złóż Ropy i Gazu Petrobaltic S.A. received a 20-year licence to produce natural gas (gas condensate) from B6 reservoir situated in the Polish exclusive economic zone of the Baltic Sea. The licence will enable to continue the work on a concept for the development of this gas field. The B6 gas field, whose recoverable reserves are estimated at approx. 1,800 million cubic metres, is situated approx. 75 km north of Łeba. Legal basis for the report: Art. 56.1.1 of the Public Offering Act – Inside Information.
B23 Prospect – Extension of the Licence for Exploration and Prospecting for Oil and Gas in the “Gotland” Region
Report no. 96/20052006-11-09