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

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To: Tomas who wrote (1626)	5/4/2000 12:37:00 AM
From: Tomas	of 2742

Falkland Islands - South Atlantic Westmount Energy - Interim Results, April 27 From CHAIRMAN'S INTERIM REVIEW ... The analysis of the results from the first drilling programme in the North Falkland Basin has confirmed the richness of the oil source rock encountered by all the six wells drilled. It has been reported that possibly up to 60 billion barrels of oil have been generated but that the exploration wells drilled targeted potential oil fields above the source rock, whereas new geological modelling suggests that there may be more success in drilling below the source rock. With the improvement in the level of oil prices it is hoped new companies will be encouraged to farm-in to existing licences and promote a further drilling programme.

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