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

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To: Timelord who wrote (1290)	9/3/1999 1:03:00 PM
From: Tomas	Read Replies (1) of 2742

Red Sea Oil Corporate Update VANCOUVER, BRITISH COLUMBIA--Red Sea Oil Corporation (the ``Company') announces that the drilling of the C1-NC177 well on the Haruj A target in Area NC177, onshore Libya continues and is expected to be completed in approximately 4 weeks. Located 25 kilometres south of the En Naga discovery (71 million barrels recoverable), the Haruj A prospect is one of many prospects and leads identified as a result of the extensive 1998 seismic campaign. ON BEHALF OF THE BOARD Ian H. Lundin, President biz.yahoo.com

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