The Management Board of Grupa LOTOS S.A. (the “Issuer”) reports that due to the execution of an agreement between Grupa LOTOS S.A. and Petraco Oil Company Ltd of Guernsey, the total value of the agreements concluded by the above mentioned companies in the period from the date of publication of the previous report (No. 10/2011 of March 1st 2011) until today, i.e. June 10th 2011, reached approximately USD 306.6m (i.e. PLN 834.4m, translated at the USD mid-exchange rate quoted by the National Bank of Poland for June 10th 2011).
In terms of value, the largest of these agreements is the agreement of May 25th 2011 on the supply of REBCO crude, which is worth USD 108.5m (i.e. PLN 304.9m, translated at the USD mid-exchange rate quoted by the National Bank of Poland for May 25th 2011).
The agreement does not include any condition precedent or specify any date of events giving rise to a claim (dies a quo), it does not provide for any contractual penalties and its terms and conditions do not differ from the terms and conditions commonly used in agreements of such type.
The legal basis for the publication of this Current Report is Par. 5.1.3 of the Minister of Finance’s Regulation on current and periodic information to be published by issuers of securities and conditions for recognition as equivalent of information whose disclosure is required under the laws of a non-member state, dated February 19th 2009. the total value of agreements executed