ENI SpA http://www.alacrastore.com/company-snapshot/ENI_SpA-2001012 Monday, October 13, 2008 12:38:14 PM 2001012 ENI SpA en AlacraStore RSS Builder 1.0 30 ITALY - ENI SpA (ES) acquired COM e SV Srl, a natural gas production company, from ToSa Costruzioni Srl. Concurrently, ES acquired the gas distribution business of COMEST SpA.10/11/2008 3:24:05 PM26874R19973V26874R88503NENI SpACOM e SV SrlENI SpAToSa Costruzioni Srlhttp://www.alacrastore.com/storecontent/Thomson_M%26A/ENI_SpA_acquires_COM_e_SV_Srl_from_ToSa_Costruzioni_Srl-2018942040sdc/20189420402018942040Copyright © 2008, Thomson Financial, All Rights ReservedMilanOil and Gas; Petroleum RefiningItalyCrude petroleum and natural gas1311FFForeignPublicENI1311:Crude petroleum and natural gas1321:Natural gas liquids1381:Drilling oil and gas wells1382:Oil and gas field exploration services2911:Petroleum refining2999:Products of petroleum and coal, nec4911:Electric services4924:Natural gas distribution5172:Petroleum and petroleum products wholesalers, nec6719:Offices of holding companies, nec1311:Crude petroleum and natural gas1321:Natural gas liquids1381:Drilling oil and gas wells1382:Oil and gas field exploration services2911:Petroleum refining2999:Products of petroleum and coal, nec4911:Electric services4924:Natural gas distribution5172:Petroleum and petroleum products wholesalers, nec6719:Offices of holding companies, necOil and Gas; Petroleum RefiningItalyCrude petroleum and natural gas1311FFForeignSubsidiary2030003Oil,gas expl,prodn;hldg coNatural gas prodnUnspecifiedAssets1045974001Oct 11 20080.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000001.000002.000003.000004.000005.000006.000007.000008.000009.0000010.0000011.0000012.0000013.0000014.0000015.0000016.0000017.0000018.0000019.0000020.00000ENI SpA, headquartered inRome, Italy, is an oil and gasexploration and productioncompany. The group alsoprovides electricitygeneration services,manufactures and wholesalespetrochemicals, produces andwholesale natural gas. It alsohandles refinement anddistribution of oil derivativeproducts; petrochemicals;engineering projects andrelated services. The Group isa holding company whichoperates in 70 countriesworldwide through outcompanies located in 5continents. The company wasfounded in 1953.ENI SpA, headquartered in Rome, Italy, is an oil and gasexploration and production company. The group also provideselectricity generation services, manufactures and wholesalespetrochemicals, produces and wholesale natural gas. It alsohandles refinement and distribution of oil derivativeproducts; petrochemicals; engineering projects and relatedservices. The Group is a holding company which operates in70 countries worldwide through out companies located in 5continents. The company was founded in 1953.ENI SpA, headquartered in Rome, Italy, is an oil and gas exploration and production company. The group also provides electricity generation services, manufactures and wholesales petrochemicals, produces and wholesale natural gas. It also handles refinement and distribution of oil derivative products; petrochemicals; engineering projects and related services. The Group is a holding company which operates in 70 countries worldwide through out companies located in 5 continents. The company was founded in 1953.1.000002.000003.00000COM e SV Srl, located inItaly, is a natural gasproduction company.COM e SV Srl, located in Italy, is a natural gas productioncompany.COM e SV Srl, located in Italy, is a natural gas production company.0.000000.000000.000000.00000N09 Oct 08Thu, 09 Oct 2008 00:00:00 ESTDate Announced: 10/09/200809 Oct 08Date Effective: 10/09/200809 Oct 08Acq. of AssetsFriendly0.000000.000000.000000.000000.000000.00000Price/Share0.0000000.000000.0000000.00000100.00000100.000000.000000.000000.0000000.00000N0.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.00000100.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000001.000002.000003.000004.000005.000006.000007.00000ITALY - ENI SpA (ES) acquiredCOM e SV Srl, a natural gasproduction company, from ToSaCostruzioni Srl. Concurrently,ES acquired the gasdistribution business ofCOMEST SpA.ITALY - ENI SpA (ES) acquired COM e SV Srl, a natural gas production company, from ToSa Costruzioni Srl. Concurrently, ES acquired the gas distribution business of COMEST SpA.ITALY - ENI SpA (ES) acquired COM e SV Srl, a natural gas production company, from ToSaCostruzioni Srl. Concurrently, ES acquired the gas distribution business of COMEST SpA.ITALY - ENI SpA (ES) acquired COM e SV Srl, a natural gas production company, from ToSa Costruzioni Srl. Concurrently, ES acquired the gas distribution business of COMEST SpA.ITALY - ENI SpA (ES) acquired COM e SV Srl, a natural gas production company, from ToSa Costruzioni Srl. Concurrently, ES acquired thegas distribution business of COMEST SpA.Completed0.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.00000Status:Completed-999.00000np0.00000-999.00000np0.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000001311:Crude petroleum and natural gas1321:Natural gas liquids2030003MilanItaly1311ForeignPublicENI1311:Crude petroleum and natural gas1321:Natural gas liquids1045978001Italy1311ForeignPrivate0.000000.000000.000000.00000Deal InformationTF Mergers & AcquisitionsITALY - ENI SpA (ES) acquired the gas distribution business of COMEST SpA, a natural gas production company. Concurrently, ES acquired COM e SV Srl.10/11/2008 3:24:05 PM26874R20074Q26874R20074PENI SpACOMEST SpA-Gas Distribution BusinessENI SpACOMEST SpAhttp://www.alacrastore.com/storecontent/Thomson_M%26A/ENI_SpA_acquires_COMEST_SpA_Gas_Distribution_from_COMEST_SpA-2018943040sdc/20189430402018943040Copyright © 2008, Thomson Financial, All Rights ReservedMilanOil and Gas; Petroleum RefiningItalyCrude petroleum and natural gas1311FFForeignPublicENI1311:Crude petroleum and natural gas1321:Natural gas liquids1381:Drilling oil and gas wells1382:Oil and gas field exploration services2911:Petroleum refining2999:Products of petroleum and coal, nec4911:Electric services4924:Natural gas distribution5172:Petroleum and petroleum products wholesalers, nec6719:Offices of holding companies, nec1311:Crude petroleum and natural gas1321:Natural gas liquids1381:Drilling oil and gas wells1382:Oil and gas field exploration services2911:Petroleum refining2999:Products of petroleum and coal, nec4911:Electric services4924:Natural gas distribution5172:Petroleum and petroleum products wholesalers, nec6719:Offices of holding companies, necOil and Gas; Petroleum RefiningItalyCrude petroleum and natural gas1311FFForeignSubsidiary2030003Oil,gas expl,prodn;hldg coNatural gas prodnUnspecifiedAssets1045981001Oct 11 20080.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000001.000002.000003.000004.000005.000006.000007.000008.000009.0000010.0000011.0000012.0000013.0000014.0000015.0000016.0000017.0000018.0000019.0000020.00000ENI SpA, headquartered inRome, Italy, is an oil and gasexploration and productioncompany. The group alsoprovides electricitygeneration services,manufactures and wholesalespetrochemicals, produces andwholesale natural gas. It alsohandles refinement anddistribution of oil derivativeproducts; petrochemicals;engineering projects andrelated services. The Group isa holding company whichoperates in 70 countriesworldwide through outcompanies located in 5continents. The company wasfounded in 1953.ENI SpA, headquartered in Rome, Italy, is an oil and gasexploration and production company. The group also provideselectricity generation services, manufactures and wholesalespetrochemicals, produces and wholesale natural gas. It alsohandles refinement and distribution of oil derivativeproducts; petrochemicals; engineering projects and relatedservices. The Group is a holding company which operates in70 countries worldwide through out companies located in 5continents. The company was founded in 1953.ENI SpA, headquartered in Rome, Italy, is an oil and gas exploration and production company. The group also provides electricity generation services, manufactures and wholesales petrochemicals, produces and wholesale natural gas. It also handles refinement and distribution of oil derivative products; petrochemicals; engineering projects and related services. The Group is a holding company which operates in 70 countries worldwide through out companies located in 5 continents. The company was founded in 1953.1.000002.00000Gas distribution business ofCOMEST SpA, located in Italy.Gas distribution business of COMEST SpA, located in Italy.Gas distribution business of COMEST SpA, located in Italy.0.000000.000000.000000.00000N09 Oct 08Thu, 09 Oct 2008 00:00:00 ESTDate Announced: 10/09/200809 Oct 08Date Effective: 10/09/200809 Oct 08Acq. of AssetsFriendly0.000000.000000.000000.000000.000000.00000Price/Share0.0000000.000000.0000000.00000100.00000100.000000.000000.000000.0000000.00000N0.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.00000100.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000001.000002.000003.000004.000005.000006.00000ITALY - ENI SpA (ES) acquiredthe gas distribution businessof COMEST SpA, a natural gasproduction company.Concurrently, ES acquired COMe SV Srl.ITALY - ENI SpA (ES) acquired the gas distribution business of COMEST SpA, a natural gas production company. Concurrently, ES acquired COM e SV Srl.ITALY - ENI SpA (ES) acquired the gas distribution business of COMEST SpA, a natural gasproduction company. Concurrently, ES acquired COM e SV Srl.ITALY - ENI SpA (ES) acquired the gas distribution business of COMEST SpA, a natural gas production company. Concurrently, ES acquired COM e SV Srl.ITALY - ENI SpA (ES) acquired the gas distribution business of COMEST SpA, a natural gas production company. Concurrently, ES acquiredCOM e SV Srl.Completed0.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.00000Status:Completed-999.00000np0.00000-999.00000np0.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000001311:Crude petroleum and natural gas1321:Natural gas liquids2030003MilanItaly1311ForeignPublicENI1311:Crude petroleum and natural gas1321:Natural gas liquids1045979001Italy1311ForeignPrivate0.000000.000000.000000.00000Deal InformationTF Mergers & Acquisitionshttp://www.alacrastore.com/storecontent/ccbn/T1976739ccbn/T1976739norm... - Eni S.p.A. - CEOOkay, well, ladies and gentlemen, we can get started. I hope you enjoyed the opportunity of asking questions directly to [Minister Mynbayev], who has been instrumental in the last few months to reach this agreement around Kashagan. I think some of you do not believe that we finally are in Kashagan after we'd been fixing this meeting a few times and then canceling it. But you know how things goes in our industry. We are finally here and I trust that the fieldtrip will be worth your patience and your time and your effort to come here. Now, you will have tomorrow the opportunity to take a direct look after ####, because I think the last fieldtrip in Kashagan was in ####, to take a direct look of the progress we have been making in this five years now -- five years. And I'm particularly interested to know -- to see your reactions after the acres of paper, of news that you have been reading about Kashagan in the last ## months. Now, apart from visiting Kashagan, this is... 9/19/2008 1:05:00 PMEni S.p.A.54.0000FinalEni S.p.A. Upstream Seminar & Kashagan Field Trip - Exploration & Production Update Conference Call TranscriptE3:30pm CETTranscriptT1976739Credit & Investment ResearchThomson StreetEventshttp://www.alacrastore.com/storecontent/fitch/398346_report_framefitch/398346_report_framepdfFitch Ratings is a leading global rating agency committed to providing the world's credit markets with independent, timely and prospective credit opinions. Built on a foundation of organic growth and strategic acquisitions, Fitch Ratings has grown rapidly during the past decade gaining market presence throughout the world and across all fixed income markets.BP plcConocoPhillipsENI SpAExxon Mobil CorporationJSC NC KazMunaiGazLukoil OAOOAO GazpromPetrol ADPetrol Ofisi A.S.PKN ORLEN SARepsol YPF S.A.Rompetrol Group N.V.Rosneft OJSCRoyal Dutch Shell PLCTatneft OAOTNK-BP International LimitedTotal SATurkish Petroleum Refineries Corp.(TUPRAS)Valero Energy Corporation8008977380090098800907838009087880090918800909218009214580360394803606048036143980417179805128068053873480702399808912598116723581208235824867148307432683396462853654738/27/2008 10:15:00 AM01000000010200000103000001031000275Special Report0120275PETBPCOPENIGAZPLKOHPKNPTOFSRDSAREPROSNTATNTUPRSVLOXOM398346_report_frameCredit & Investment ResearchFitch Researchhttp://www.alacrastore.com/storecontent/bir/516074bir/516074normENI S.p.A.Lasmo Ltd.ENI.ItalyMining: Oil and gas exploration, production, supply and oil and gas field services including rig engineering and construction. Utilities: Electricity generation and natural gas distribution. Manufacturing: Petrochemicals. Finance: Holding company.13111381138249254931289967192111112131112131122211222212103259985511129IME8/26/2008 6:21:46 AM516074Company Profiles & FinancialsGale Company Profileshttp://www.alacrastore.com/storecontent/cs/73400cs/73400norm Eni #Q## Tearsheet Eni's balance sheet deteriorated modestly during the quarter as total debt/capital increased to ##%, from ##% at end-Q###, while net debt/capital increased to ##%, from ##% at end-Q###.  Coverage ratios were mixed.We...73400360YesC21Tearsheet1522tearsheets/premium15608/19/2008 4:06:07 PM15073400Credit & Investment ResearchCreditSightshttp://www.alacrastore.com/storecontent/ccbn/B1726944ccbn/B1726944norm...For #Q##, E reported adjusted net profit of EUR#.#b and adjusted operating profit of EUR#.#b. www.streetevents.comContact Us ... 7/31/2008 6:06:00 PMEni S.p.A.54.0000EditedHalf Year 2008 Eni S.p.A. Earnings Conference Call SummaryE12:30pm CETBriefB1726944Credit & Investment ResearchThomson StreetEventshttp://www.alacrastore.com/storecontent/ccbn/T1726944ccbn/T1726944norm...Good morning ladies and gentlemen and welcome to Eni's #### interim review conference call hosted by Paolo Scaroni, CEO. My name is [Ena] and I'll be your co-ordinator for today's conference. For the duration of the call we'll be on listen-only. However, at the end of the call you'll have the opportunity to ask questions. (OPERATOR INSTRUCTIONS) I'm now handing you over to your host to begin today's conference. ... 7/31/2008 5:06:00 PMEni S.p.A.54.0000FinalHalf Year 2008 Eni S.p.A. Earnings Conference Call TranscriptE12:30pm CETTranscriptT1726944Credit & Investment ResearchThomson StreetEventshttp://www.alacrastore.com/storecontent/spcred/537124spcred/537124normThe latest Summary from S&Pglobalstructured7/4/2008 2:55:00 AM175Summary537124ItalyIntegrated Oil & GasEmerging MarketsEurope, Middle East, AfricaLatin AmericaUnited StatesGlobal IssuersStructured FinanceUtilitiesCorporationsFinancial InstitutionsInternational Public FinanceInsuranceSovereignsAsset-Backed SecuritiesCommercial MBSResidential MBSCollateralized Debt ObligationsMetals & MiningEnergyGasAerospace & DefenseChemicalsElectricSummaryThe ratings on Italy-based oil and gas major Eni SpA reflect its diversified international positions in hydrocarbon production and above-peer production growth, complemented by recurring revenues from its strong domestic downstream presence in natural gas. A robust financial profile characterized by strong free cash flow generation and modest debt levels further underpin the ratings. Relative weaknesses include growing upstream reliance on politically unstable areas, a weak chemicals division and related environmental provisions, and expected increasing domestic gas supply liberalization and a generous dividend policy. The ratings of Eni--which generates about one-third of net profits in Italy and is 30% owned by the state – are negatively influenced but are not explicitly linked to those of the Republic of Italy (AA-/Neg/A-1+).ITA26874R10102010 101020 1010 10Eni SpA321616EMERGINGEUROMIDAFRLATAMERICAUSAENI@IMSUMMARYITAFRAUSANLD1667512082M5465410T6247A2082M22082M320825CT6031ZT60259T6052B10102010 101020 1010 10Chevron Corp.Italy (Republic of)Royal Dutch Shell PLCTotal S.A.ConocoPhillips102206107135114902337129364931ASIAEMERGINGEUROMIDAFRUSACANLATAMERICACVX2103Z@IMRDSG1@LNFP@FPCOPGLOBISSSTRUCUTILCORPFIGOVSINSSOVABSCMBSRMBSCDOMetalsEnergyGasAerospaceChemicalsElectricCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/538744spcred/538744normThe latest Full Report from S&Pglobalstructured7/4/2008 2:55:00 AM400Full Report538744ItalyIntegrated Oil & GasEmerging MarketsEurope, Middle East, AfricaLatin AmericaUnited StatesGlobal IssuersStructured FinanceCorporationsFinancial InstitutionsInternational Public FinanceInsuranceSovereignsUtilitiesAsset-Backed SecuritiesCommercial MBSResidential MBSCollateralized Debt ObligationsChemicalsGasMetals & MiningEnergyElectricAerospace & DefenseFull ReportMassive, diversified, cost-efficient upstream operations; Impressive, above-peer production growth and adequate reserve replacement expectations; Diversity provided by its large recurring gas downstream activities in Europe, and Italian refining assets; and Strong financial profile and high degree of financial flexibility. Increasing reliance on politically riskier areas for upstream production, notably Africa and Kazakhstan; Increasing wholesale gas supply competition and regulatory pressure in Italy; Weak legacy chemical assets and related environmental exposures; and Fairly aggressive dividend policy. The ratings on Italy-based oil and gas major Eni SpA reflect its diversified international positions in hydrocarbon production and above-peer production growth, complemented by recurring revenues from its strong domestic downstream presence in natural gas. A robust financial profile characterized by strong free cash flowITA26874R10102010 101020 1010 10Eni SpA321616EMERGINGEUROMIDAFRLATAMERICAUSAENI@IMFULLITAUSANLDBELGBRFRABHS2082M22082M3T60259T6052B51808VT6247A16675120825CB3579RT6031Z2082M546541050173051808B10102020 101020 1010 1040101010 401010 4010 4010102010 101020 1010 10Chevron Corp.Italy (Republic of)Royal Dutch Shell PLCEni Lasmo PLCEni International Bank Ltd.Eni USA Inc.Eni America Ltd.Total S.A.Societa Finanziaria Eni SpAEni Coordination Center S.A.ConocoPhillips102206107135114902115674116260126503329745337129340061340063364931CANEMERGINGEUROMIDAFRUSALATAMERICAASIACVX2103Z@IMRDSG1@LNLSMR@LN2499Z16229Z16230ZFP@FPCOPGLOBISSSTRUCCORPFIGOVSINSSOVUTILABSCMBSRMBSCDOChemicalsGasMetalsEnergyElectricAerospaceCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/29318spcred/29318normThe latest News from S&Pglobalstructured7/4/2008 2:54:00 AM100News29318ItalyIntegrated Oil & GasEmerging MarketsEurope, Middle East, AfricaLatin AmericaUnited StatesGlobal IssuersStructured FinanceCorporationsFinancial InstitutionsInternational Public FinanceSovereignsAsset-Backed SecuritiesCommercial MBSResidential MBSCollateralized Debt ObligationsMetals & MiningGasEnergyNewsParis -- Standard&Poor's CreditWire 5/7/98 -- Standard&Poor's today affirmed its long-term double-'A' corporate credit rating on ENI SpA. Like all other issuers in the European Monetary Union (EMU) zone, ENI's local and foreign currency long-term ratings have converged into a single rating. Standard&Poor's also affirmed its short-term 'A-1'-plus corporate credit rating on the company. At the same time, the outlook was revised to stable from negative, following the revision of the outlook on the Republic of Italy's long-term rating to stable from negative. However, the long-term prospects on ENI's creditworthiness are unchanged, Standard&Poor's said. -- CreditWireITA26874R10102010 101020 1010 10Eni SpA321616EMERGINGEUROMIDAFRLATAMERICAUSAENI@IMNEWSITAT60259T6052BT6031ZT6247A465410Italy (Republic of)107135EMERGINGLATAMERICAUSAEUROMIDAFR2103Z@IMGLOBISSSTRUCCORPFIGOVSSOVABSCMBSRMBSCDOMetalsGasEnergyCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/656305spcred/656305normThe latest Summary from S&Pglobal6/26/2008 3:28:52 PM175Summary656305ItalyIntegrated Oil & GasEmerging MarketsEurope, Middle East, AfricaLatin AmericaUnited StatesGlobal IssuersCorporationsEnergyGasMetals & MiningSummaryThe ratings on Eni reflect its stand-alone credit quality, underpinned by highly profitable international upstream activities, together with substantial diversification provided by large European downstream gas and power activities, and to a lesser extent by Italian refining assets and its 43% stake in Saipem. Recurring cash flows from Eni's downstream gas activities are a key positive rating factor and differentiate the group from other Western majors, which are more exposed to cyclical refining and marketing. Eni's financial profile remains strong, but less so than peers'. Relative weaknesses include high upstream reliance and some concentration on higher-risk non-OECD countries (with close to 60% of reserves in West and North Africa and Kazakhstan), industry-wide reserve replacement challenges, a weak chemicals division, andITA26874R10102010 101020 1010 10Eni SpA321616EMERGINGEUROMIDAFRLATAMERICAUSAENI@IMSUMMARYGLOBISSCORPEnergyGasMetalsCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/656304spcred/656304normThe latest Full Report from S&Pglobal6/26/2008 1:14:52 PM400Full Report656304ItalyIntegrated Oil & GasEmerging MarketsEurope, Middle East, AfricaLatin AmericaUnited StatesGlobal IssuersCorporationsMetals & MiningEnergyGasFull ReportMassive, highly profitable upstream operations Diversity provided by large cash-generative gas downstream activities in Europe, and to a lesser extent, Italian refining assets and oil service activities Largest European gas supplier, with massive gas supply portfolio and ownership of key import pipelines and growing LNG upstream assets Strong financial profile, albeit less conservative than peers' High and rising share of capital invested in, and upstream production in, non-OECD countries Analytical uncertainties stemming from high share of production sharing contracts Weak legacy in chemical assets and related environmental exposure Generous and euro-denominated dividend policy, with risk of low discretionary free cash flow if dollar is weak The ratings on Eni reflect its stand-alone credit quality, underpinned by highly profitable international upstreamITA26874R10102010 101020 1010 10Eni SpA321616EMERGINGEUROMIDAFRLATAMERICAUSAENI@IMFULLUSAGBR50173051808B51808V10102020 101020 1010 10Eni Lasmo PLCEni USA Inc.Eni America Ltd.115674126503329745USAEUROMIDAFRLSMR@LN16229Z16230ZGLOBISSCORPMetalsEnergyGasCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/cs/70746cs/70746norm Integrated Oil Finding Cost Study ####: Super Majors Lead the Way In our fourth annual Integrated Oil Finding Cost Study, we have analyzed key measures such as F&D costs, reserve replacement rates, cash flow trends, capital spending...707463402YesD0Article5111229236734754906180515816686517951522672corp6071156/23/2008 10:07:11 AM150In this report, we evaluate industry-weighted averages and individual company results to assess how the industry is performing as a whole and how each company is performing relative to each other.70746Credit & Investment ResearchCreditSightshttp://www.alacrastore.com/storecontent/spcred/654906spcred/654906normThe latest News from S&Pglobal6/19/2008 10:31:31 AM100News654906ItalyIntegrated Oil & GasEmerging MarketsEurope, Middle East, AfricaLatin AmericaUnited StatesGlobal IssuersCorporationsEnergyGasMetals & MiningNewsPARIS (Standard&Poor's) June 19, 2008--Standard&Poor's Ratings Services said today that it lowered its long-term corporate credit rating on Italian oil and gas major Eni SpA to 'AA-' from 'AA'. The outlook is stable. At the same time, Standard&Poor's affirmed the 'A-1+' short-term ratings. "The downgrade follows a substantial increase in Eni's gross financial debt, to €20 billion at year-end 2007, compared with an average of €12.5 billion over 2004-2006," said Standard&Poor's credit analyst Karl Nietvelt. The increase resulted from a string of acquisitions amounting to $16 billion over the last 12 months. This figure excludes the recent €2.7 billion acquisition from Suez of a 57% stake in Distrigas, which will be offsetITA26874R10102010 101020 1010 10Eni SpA321616EMERGINGEUROMIDAFRLATAMERICAUSAENI@IMNEWSGLOBISSCORPEnergyGasMetalsCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/654907spcred/654907normThe latest Research Update from S&Pglobal6/19/2008 10:31:31 AM175Research Update654907ItalyIntegrated Oil & GasEmerging MarketsEurope, Middle East, AfricaLatin AmericaUnited StatesGlobal IssuersCorporationsMetals & MiningEnergyGasResearch UpdateOn June 19, 2008, Standard&Poor's Ratings Services lowered its long-term corporate credit rating on Italian oil and gas major Eni SpA to 'AA-' from 'AA'. The outlook is stable. At the same time, Standard&Poor's affirmed the 'A-1+' short-term ratings. The downgrade follows a substantial increase in Eni's gross financial debt, to €20 billion at year-end 2007, compared with an average of €12.5 billion over 2004-2006. The increase resulted from a string of acquisitions amounting to $16 billion over the last 12 months. This figure excludes the recent €2.7 billion acquisition from Suez of a 57% stake in Distrigas, which will be offset by a similar amount of asset disposal proceeds. That said, Eni's credit metrics shouldITA26874R10102010 101020 1010 10Eni SpA321616EMERGINGEUROMIDAFRLATAMERICAUSAENI@IMRESUPDGLOBISSCORPMetalsEnergyGasCredit & Investment ResearchS&P Credit ResearchUK - Eni UK Ltd, a unit of ENI SpA, signed a Memorandum of Understanding {MoU} to raise its interest to ##% from ##.##%, by acquiring a ##.##% interest, in Hewlett Gas Field, an oil and gas exploration and production company, from Tullow Oil PLC, for ### mil British pounds ($###.### mil US) in cash. The transaction was to include Bacton terminal, and was subject to regulatory approvals.6/11/2008 2:17:29 PM23933N42826M26874R89941AEni UK LtdHewett Gas FieldENI SpATullow Oil PLChttp://www.alacrastore.com/storecontent/Thomson_M%26A/Eni_UK_Ltd_acquires_Hewett_Gas_Field_from_Tullow_Oil_PLC-1985376040sdc/19853760401985376040Copyright © 2008, Thomson Financial, All Rights ReservedOil and Gas; Petroleum RefiningUnited KingdomCrude petroleum and natural gas1311FFForeignSubsidiary1311:Crude petroleum and natural gas1381:Drilling oil and gas wells1382:Oil and gas field exploration services1311:Crude petroleum and natural gas1321:Natural gas liquids1381:Drilling oil and gas wells1382:Oil and gas field exploration services2911:Petroleum refining2999:Products of petroleum and coal, nec4911:Electric services4924:Natural gas distribution5172:Petroleum and petroleum products wholesalers, nec6719:Offices of holding companies, necOil and Gas; Petroleum RefiningUnited KingdomCrude petroleum and natural gas1311FFForeignSubsidiary208222002Oil,gas expl,prodn;hldg coOil,gas expl,prodn coCashCash OnlyStock630555002Jun 11 20080.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000001.000002.000003.000004.000005.000006.00000Eni UK Ltd, based in London,UK, is an oil and gasexploration and productioncompany, supplying the UKindustrial and commercialsector.Eni UK Ltd, based in London, UK, is an oil and gasexploration and production company, supplying the UKindustrial and commercial sector.Eni UK Ltd, based in London, UK, is an oil and gas exploration and production company, supplying the UK industrial and commercial sector.1.000002.000003.000004.00000Hewett Gas Field, based in theUK, is an oil and gasexploration and productioncompany.Hewett Gas Field, based in the UK, is an oil and gasexploration and production company.Hewett Gas Field, based in the UK, is an oil and gas exploration and production company.0.000000.000000.000000.00000YBritish Pound10 Jun 08Tue, 10 Jun 2008 00:00:00 ESTDate Announced: 06/10/2008Date Effective:Acq. Maj. Int.Friendly0.000000.000000.000000.000000.000000.00000Price/Share0.00000210 British Pound210.000000.00000210 British Pound210.000000.000000.000000.000000.00000210.00000210 British Pound1.97400N210.000000.000000.000000.000000.000000.00000414.60300414.603000.000000.000000.000000.000000.000000.0000037.3100051.690000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.00000