Oil Production Stock Payment

RNS Number:6154A
ENI Lasmo PLC
30 March 2006



               ENI LASMO PLC - OIL PRODUCTION STOCK ("OPS") PAYMENT

The payment on the OPS for the six months ended 31 December 2005 will be made on
28 April 2006 to holders on the register on 7 April 2006. The payment rate per
unit will be announced on 4 April 2006.

Notes to editors

1.     OPS units were issued in 1976 to help fund the LASMO share of the 
       Ninian field development costs. The Ninian field commenced production 
       on 23 December 1978 and the OPS holders have been receiving half yearly 
       payments for some 20 years. The OPS is governed by the requirements of 
       the Trust Deed, which was issued in August 1976 and payments are subject 
       to audit by independent accountants.

2.     The OPS payment is calculated on 8.75 percent of the sales value of
       production from 8.62608 percent of the Ninian field after deducting 
       Government royalties, field operating costs (as adjusted for incremental 
       costs associated with tariffing assets) and insurance costs, incurred in 
       connection with the production, conveying and treatment of petroleum won 
       from the field.

3.     The net value is adjusted for OPS units repurchased and cancelled by
       LASMO and the payment per share is calculated on the number of units 
       currently outstanding (as at 8 March 2006 the number of units outstanding 
       was 5,562,990, the original number of units issued being 7,500,000).

4.     The OPS is repayable at par (10 pence per unit) at the earliest of:
   
       *    the termination of production from the field,

       *    the date when the quantity of petroleum won and saved for the field 
            attributable to the OPS interest reaches 120 million barrels, or

       *    31 December 2010.

5.     The licence interest in Licence P.199 Block 3/8a in the North Sea (which
       includes the Ninian field), was sold to Agip Oil Britain Limited 
       (formerly known as Sun Oil Britain Limited, since liquidated and whose 
       assets are held by Eni UK Limited) and Ranger Oil (U.K.) Limited in 1994.  
       However, as far as holders of the OPS are concerned, the terms and 
       conditions governing the OPS remain unchanged.

Enquiries:     Nadia McAtackney
               Corporate Accountant 
               Eni UK Limited

               Tel no. 020 7344 6299


                      This information is provided by RNS
            The company news service from the London Stock Exchange

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