Execution of crude oil supply contract between Grupa LOTOS S.A. and AB LOTOS Geonafta
January 17th 2013 Grupa LOTOS S.A. and AB LOTOS Geonafta (indirect subsidiary) of Gargždai, Lithuania, signed an indefinite term contract for the supply of crude oil to the LOTOS Group.
Under the contract, crude oil will be delivered by sea. The estimated value of the contract over five years of its life is approximately PLN 822m.
The contract does not provide for any contractual penalties and its terms and conditions do not differ from the terms and conditions commonly applied in contracts of such type.
The contract is classified as significant as its estimated value exceeds 10% of Grupa LOTOS’ equity.
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.