In the period from November 9th 2011 to April 18th 2012, Grupa LOTOS executed contracts with Statoil Group companies for an aggregate value of approximately PLN 935m, i.e. the value of a significant agreement (more than 10% of the equity of Grupa LOTOS).
On January 13th 2012, Grupa LOTOS and Statoil ASA of Stavanger executed a contract for the supply of crude oil to Grupa LOTOS. The contract was executed for a definite period (from January 13th 2012 to January 31st 2012), and is the highest value contract from among the contracts with Statoil Group companies). The estimated value of the contract of January 13th 2012 is PLN 357m.
The contract does not include any condition precedent or specify any date of events giving rise to a claim (dies a quo), nor does it provide for any contractual penalties. The other terms and conditions of the contract do not differ from the terms and conditions commonly applied 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.