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Gold/Mining/Energy : Lundin Oil (LOILY, LOILB Sweden)
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To: Tomas who wrote (1264)8/30/1999 4:58:00 PM
From: Tomas  Read Replies (2) of 2742
 
First Oil Shipments from Sudan - Talisman press release

CALGARY, Aug. 30 /CNW-PRN/ - Talisman Energy Inc. today announced the commencement of oil loadings in Sudan. The first cargo of 600,000 barrels of Nile Blend crude oil is currently loading at the export facility south of Port Sudan on the Red Sea. Production is approximately 120,000 bbls/d from two major oilfields at Heglig and Unity, 1500 kilometres to the south west.

``I would like to thank and congratulate Talisman's employees, our partners and the government for their tremendous efforts towards achieving this milestone. This is a great day for all of the people of Sudan,' said Dr. Jim Buckee, President and Chief Executive Officer of Talisman. ``The timing of first sales is fortunate with WTI benchmark oil prices now over $21 per barrel.
We are now looking at plans to increase production beyond the 150,000 bbls/d anticipated for next year.'

Talisman Energy Inc. is the largest independent Canadian oil and gas producer. The Company has operations in Canada, the North Sea, Indonesia and Sudan. Talisman is also conducting exploration in Algeria and Trinidad. Talisman's shares are listed on the Toronto and Montreal stock exchanges in Canada and the New York Stock Exchange in the United States under the symbol TLM.

biz.yahoo.com
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