Lundin Oil (LOILY, LOILB Sweden) Message Board

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

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To: balisurf who wrote (522)	11/28/2000 10:16:19 AM
From: Tomas	Read Replies (1) of 2742

Malaysia: Lundin Oil obtained block in competition with Shell and Exxon Dagens Industri (Financial Daily in Sweden), November 28 Lundin Oil, a Swedish independent oil company listed in Stockholm and on Nasdaq, has been awarded drilling rights to a new offshore area in the Malay Basin. At the same time, Lundin is discussing a contract with the government of Vietnam. Lundin, the third-largest foreign investor in the Malaysian oil industry, obtained the 2,200 sq. km offshore block in competition with such oil giants as Shell and Exxon. The block contains one discovery, known as Ophir, which produces 2,000 barrels per day of crude oil. "We have established a special relationship with the government of Malaysia. We have proven that we can develop an oil field cheaper and often faster than other companies. This is also what has interested the Vietnamese," says company CEO Ian Lundin. (DI) di.se\11\28\11322

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