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

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To: Tomas who wrote (2523)	6/18/2001 4:00:58 PM
From: Greywolf	Read Replies (1) of 2742

Talisman takeover teaser, Upstream Jim Buckee, chief executive of Canada's Talisman Energy, today hinted that the company could soon launch a new takeover in the sector. "We continue to evaluate opportunities to add value and growth, and we have a comparatively modest and politically impeccable opportunity which may in fact be announced later this week," he told delegates at an investment conference in Calgary sponsored by the Canadian Association of Petroleum Producers. Some 10 days ago, Upstreamonline reported that investment bankers believed Talisman was in talks to acquire Sweden’s Lundin Oil, which has oil concessions in Sudan alongside the Canadian company with interests in the North Sea and Asia. Meanwhile, Buckee reiterated his opinion that the company will not be denied access to American financial markets despite a proposed Bill before the US Congress to prohibit foreign companies from listing on US stock exchanges if they explore for oil in Sudan. "That Bill has a long way to go before being passed and we will remain in compliance with US policy," he said. "We think that the US will not take this extraordinary unilateral action. We continue to do our good work and I have just come back from Khartoum where I had meaningful discussions on human rights and oil revenues with the appropriate minister." Shares in the company fell almost US$2 following news of the Bill last Thursday but they regained 65 cents to US$39.33 in late trading on Monday. Talisman, which trades on the New York Stock Exchange and where almost 45% of its stock is held by Americans, is the leading Western investor in the Greater Nile Petroleum project in war-torn Sudan. Critics any say oil royalties are used by the Khartoum government to prolong a civil war that has raged for 18 years.

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