Oil Production Stock Payment

RNS Number:5451E
ENI Lasmo PLC
27 September 2007



Embargoed for release: 7.00am, 27 September 2007



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


The payment on the OPS for the six months ended 30 June 2007 will be made on 31
October 2007 at the rate of 8.2832 pence per unit to holders on the register on
5 October 2007. Payment for the six months ended 31 December 2006 was made at
the rate of 7.8900 pence per unit.


Notes to editors

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.

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.

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 17 September 2007 the number of units outstanding was 5,562,990, the
original number of units issued being 7,500,000).

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.

At 30 June 2007 cumulative production from the Ninian field attributable to the
OPS interest amounted to 102.9 million barrels (31 December 2006: 102.5 million
barrels). Production attributable to the OPS interest for the 6 months ended 30
June 2007 was 387,785 barrels (6 months ended 31 December 2006: 382,485
barrels).

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, formerly Agip (U.K.) 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:     Dario Rona
               Corporate Accountant
               Eni UK Limited

               Tel no. 020 7344 6295




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

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