Lundin Oil (LOILY, LOILB Sweden) Message Board

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

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To: J. Kerr who wrote (580)	5/27/1998 7:21:00 AM
From: Tomas	of 2742

The Times, May 27: Renewed speculative buying continued to drive Desire Petroleum higher. The shares finished 30p higher at 445p amid growing hopes that the group has struck it rich off the Falkland Islands. Some brokers suggest that the company is sitting on enough oil to value assets at a conservative œ42 a share. __________________________________________________ Do they still believe Desire is drilling off the Falklands?? Incredible. Desire's well is scheduled for June. œ42... = a market capitalization exceeding US$3 billion! Today Desire is worth 1/10 of that, and Sodra only US$100 million. Sodra owns 100% of their tranche (2.2 billion potential barrels). Desire only has 25% of a total of 2.7 billion potential barrels. Something is fundamentally wrong! If Sodra went up 500% it would still be cheaper than Desire!

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