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

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To: Tomas who wrote (1173)	7/14/1999 10:19:00 PM
From: Tomas	Read Replies (1) of 2742

Papua New Guinea: It's good news for gas project, say oil firms The National, July 15 BRISBANE: Sir Mekere Morauta's appointment as the new prime minister yesterday heralded good news for the proposed PNG to Queensland gas pipeline and other major projects, mining leaders said. Oil Search Ltd managing director Peter Botten said Sir Mekere's appointment was extremely positive for the business community and Oil Search's activities, especially the pipeline project in which it is a major participant. "It's one project that is going to move PNG out of some of its economic problems and change its outlook for the next 30 years," Mr Botten said. "A united and coherent government in PNG at this very critical time is very important for that project and we're very encouraged by what happened today." Cliff Leggoe, external affairs manager for project co-ordinator Chevron, said the pipeline has always enjoyed bipartisan support in PNG. "We expect this level of support to continue," he said. Mr Botten said Sir Mekere's experience as a former governor of the PNG central banker and in Treasury will be seen as a major positive by the investment community worldwide. wr.com.au

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