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Gold/Mining/Energy : Sodra Petroleum
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To: Greywolf who wrote (106)7/1/1999 8:27:00 PM
From: Greywolf  Read Replies (1) of 133
 
Cambridge Mineral Resources PLC,

A company that has been doing geological work on the Island's all through the summer
and has figured in scuttle butt for a while now.

Not to read too much into it one can however read from the Falkland Island Holding
PLC's report published on the 27 June that....

CURRENT TRADING PROSPECTS A number of Oil Companies completed
an initial exploration programme of six wells in December 1998 and, as reported
previously, have now de-commissioned their operations in the islands whilst
analysis and interpretation of data continues. Information gained so far indicates
that reservoirs and several mature source rock intervals, with at least two oil
sources and one gas source found. Post -mortim studies of the drilling indicated a
high probability of sources elsewhere. We do not expect any exploration activity
to take place for some years but the financial impact on the Company of the
recent withdrawal of the Oil Companies, is expected to be relatively small.

Onshore mineral exploration continues with plans to expand the exploration
programme over the coming year. Discussions are taking place with Cambridge
Mineral Resources PLC to form a joint venture so as to enable the Company to
participate in these exploration activities....

For a bit of info about Cambridge please see greywolf.se

Greywolf
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