37. Material events after the reporting period

  • On February 3rd 2014, the ownership of a new rig was transferred onto SPV Baltic Sp. z o.o. (a company of the LOTOS Petrobaltic Group), following the fulfilment of the conditions stipulated in the agreement of December 20th 2013, including the full payment of the price. The offshore rig may perform drilling in waters with a depth of up to 105 metres (350 feet); it will be used in the execution of LOTOS Petrobaltic S.A.'s exploratory projects in the Baltic Sea. As at December 31st 2013, the value of the contract was disclosed as the Group’s future commitments under agreements related to expenditure on property, plant and equipment (see Note 13). The offshore rig reached Poland on February 26th 2014.