Lundin Oil (LOILY, LOILB Sweden) Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Timelord who wrote (592)	5/26/1998 6:23:00 PM
From: Tomas	of 2742

Oil-hungry Swedes head for AIM Financial Mail, London, 24/05/98 by Neil Thapar SWEDISH company Sodra Petroleum, involved in the search for oil off the Falklands, is planning to join the Alternative Investment Market in summer. Advisers have yet to be announced. Sodra owns 100% in tranche F, an offshore area north of the islands. US giant Amerada Hess hopes to complete the first well in the region in a fortnight. Shares in Desire Petroleum, Westmount Energy and Greenwich Resources soared last week on hopes of an oil strike. So far Amerada has found only traces, which still puts the odds of finding oil in commercial quantities at about one in 12. financialmail.co.uk _______________________________________________ Oil hope makes Desire Petroleum Desirable Financial Mail 20/05/98 by Scott Wilkinson THE price of Desire Petroleum has soared by almost 80% after good news from the Falklands. Drilling in the area's North Basin has revealed hydrocarbons - which prove the presence of oil or gas. Speculators have moved in to push up the share price 139p to 313.5p. Yet there is no evidence that Desire has struck enough oil to make a well commercially viable. [They got it totally wrong again, Desire is NOT drilling now] The company was set up two years ago with œ5 million from institutional investors and about 100 islanders. Last month it was floated on AIM at 125p. The placing by broker SG Securities already valued Desire at œ60million - twice the Falklands' annual gross national product. Despite the good news, equity experts are still advising extreme caution. Desire has no underlying value if the seas it is exploring does not bear fruit. And this, the company admits, remains 'a real possibility'. financialmail.co.uk

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next