ARAKIS: HIGH RISK OIL PLAY (AKSEF) Message Board

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Gold/Mining/Energy : ARAKIS: HIGH RISK OIL PLAY (AKSEF)

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To: Timelord who wrote (6134)	6/15/1997 1:15:00 AM
From: Tomas	of 9164

Alex: IPC's block in Sudan and Arakis concession area both contain the highly prospective Muglad Basin which Adolf Lundin believes is one of the few remaining large undeveloped (but proven) oil basins in the world. He is convinced that Sudan will become the next big oilproducing country, and this makes Arakis almost irresistable to him. But his immediate concern is the pipeline, he wants influence and control since he expects IPC to find a lot of oil in block 5-A. He's talking about a total of 3-3,5 billion barrels in IPC's block, the same quantity he expects Arakis' blocks to hold. The bottom line? I think he would like to swallow Arakis, and he has got the financial resources to do it, but the next step will probably be buying more shares to secure a second (and third) seat on the board. IPC has 40 million US$ of cash in their pockets, and I believe powerful friends of the Lundins have been buying shares recently. We can probably expect more of that. Another possibility would be to merge Sands with IPC, and then go for Arakis. The two companies are already closely related, and roughly of the same size. Your Man in Sweden PS. I'm an IPC-addict myself, IPC is to me what Arakis is to you Arakians.

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