Oil Production Stock Payment
2003年3月27日 - 4:00PM
RNSを含む英国規制内ニュース (英語)
RNS Number:1938J
LASMO PLC
27 March 2003
LASMO OIL PRODUCTION STOCK ("OPS") PAYMENT
The payment on the OPS for the six months ended 31 December 2002 will be made on
30 April 2003 at the rate of 3.6949 pence per unit to holders on the register on
4 April 2003. Payment for the six months ended 30 June 2002 was made at the rate
of 3.0902 pence per unit.
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 13 March 2003 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. At 31 December 2002 cumulative production from the Ninian field attributable
to the OPS interest amounted to 99.3 million barrels (30 June 2002: 98.9
million barrels). Production attributable to the OPS interest for the 6
months ended 31 December 2002 was 449,415 barrels (6 months ended 30 June
2002: 529,412 barrels).
6. 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 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: Malcolm Dulwich
Chief Accountant
Agip (U.K.) Limited
Tel. no 01224 402 199
This information is provided by RNS
The company news service from the London Stock Exchange
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