By way of first equitable charge the 68,400,000 shares in enterprise oil PLC owned by the company and all dividends, payments and other distributions paid in relation to any of such shares and all stocks, shares, rights, money or property. (See form 395 for further details).

All monies due or to become due from the company to the chargee under the terms of the £437,760,00 8 3/4% guaranted exchangeable bonds 2006 issued by the company.