Lundin Oil (LOILY, LOILB Sweden) Message Board

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Gold/Mining/Energy : Lundin Oil (LOILY, LOILB Sweden)

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To: Tomas who wrote (198)	8/15/1997 8:57:00 PM
From: Tomas	of 2742

Sands' first 6 months report was released today, and stock price fell 4%. Unfortunately IPC turned down after the report, earlier today IPC looked healthier than for weeks, buyers outnumbering sellers something like 5 to 1. Sands oil production (in The North Sea) was lower than forecast due to unscheduled interruptions. Average oil price achieved was US$19,38 (19,25) per barrel. The Falkland seismic study (IPC/Sands 50/50) is still being interpreted, and possibilities of farming out part of the Falkland interest are being investigated. In Libya drilling activity will resume in October, a month earlier than previously scheduled. Appraisal drilling in Malaysia (Bunga Mangga-1, not Bunga Seroja-2) is planned to start in early september. This will confirm the early indications that the new gas field may contain at least an additional trillion cubic feet of gas (close to a doubling of the gas reserves). IPC is usually traded 10-15 cents higher in Stockholm, but now it's traded 15 cents higher on Nasdaq, a 25-30 cents difference compared to what is "normal". Tomas

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