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

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To: Tomas who wrote (1913)	11/19/2000 11:55:16 PM
From: Tomas	Read Replies (1) of 2742

Khanty Mansiysk Oil Corporation, KMOC, is a Delaware registered company. Khanty Mansiysk is a Siberian town in the heart of a region rich with oil reserves. Several western interests own stakes in KMOC including UK-based Enterprise Oil plc. It paid dollars 26 million for a 10 per cent stake last year, with an option to buy more. A Swedish oil company, Lundin Oil, also owns a substantial stake. [My note: Lundin Oil owns a 14.88% stake]. The Russian/US firm is producing oil. In an interim report in October Enterprise Oil noted: 'KMOC has completed 22 wells out of its 40 well drilling programme for 2000, with a further six wells in progress. KMOC's net daily production currently stands at around 11,500 bopd, an 85 per cent increase on its production at the end of 1999.' There have been glowing reports about KMOC in the Western and oil press since 1997 but speculation that it might be floated on the US stock market has not yet proved correct. From Irish Times; Nov 18

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