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

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To: Tomas who wrote (1931)	11/29/2000 11:45:20 AM
From: Tomas	Read Replies (2) of 2742

OT: A Group of European Oil Companies Announces Oil Discovery in Libya's Murzuq Basin By Gabriel Lazarus and Brooke Nelson Madrid, Nov. 29 (Bloomberg) -- Repsol YPF SA, Europe's fifth-largest oil company, said it discovered oil at an exploration field in Libya. The A-1 oil field in the Murzuq Basin, 800 kilometers south of Tripoli, is likely to produce as much as 2,500 barrels of oil a day, the company said in a press release. Repsol is testing the site on behalf of a group of European oil companies including Austria's OMV AG, Total Fina Elf SA, the fourth-biggest publicly traded oil company, and Norway's Saga Petroleum ASA. Repsol began searching for oil in the area in May 1998, when the Libyan government granted approval for exploration and agreed to a production sharing arrangement with the European companies.

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