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

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To: Tomas who wrote (1529)	3/14/2000 12:17:00 PM
From: Tomas	Read Replies (1) of 2742

Lundin Oil?! "Companies prospecting for oil in Sudan are about to break good news" - Sudan's energy minister Sudan Concludes New Oil Prospecting Accord Panafrican News Agency (PANA) Daily Newswire, March 13 Khartoum, Sudan (PANA) - Sudan and a consortium of companies from Canada and Qatar have concluded an oil prospecting agreement. According to the agreement signed in Khartoum Sunday, the Canadian Mellut Group, the Qatar-based Gulf Petroleum Group and the Sudanese Sudapet will prospect for oil on an area of 70,000 square km south of Rabak town on the White Nile. The concession area will incorporate Adar Yeil oil field, which has already started producing 5,000 barrels of the crude per day. It is currently being exploited by the Gulf Petroleum Group. Under the accord, the Canadian Mellut Group and the Gulf Petroleum Group will own 46 percent of the share capital each. The remaining 8 percent will belong to Sudapest. "This consortium has fought a fair battle against scores of international companies to win this contract," the Sudanese energy and mining minister, Awad el Jaz, said during the signing ceremony. He also told guests that companies prospecting for oil in other parts of Sudan "are about to break good news." He did not elaborate. Sudan currently exports 118,000 barrels of crude oil per day from oil fields in the country's west and south.

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