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Gold/Mining/Energy : Lundin Oil (LOILY, LOILB Sweden)
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To: Tomas who wrote (1996)1/30/2001 1:29:51 PM
From: Greywolf  Read Replies (1) of 2742
 
Sudan: Lundin Oil Commences Testing On Thar Jath Well

VANCOUVER, B.C.--(BUSINESS WIRE)--Jan. 30, 2001--Lundin Oil AB (the ``Company'') (Nasdaq:LOILY - news) is pleased to announce that its wholly
owned subsidiary, IPC Sudan Limited, operator of Block 5A, onshore Sudan, has commenced testing operations on the Thar Jath-1 well.

The testing operations commenced within days of the inauguration of the 75 kilometre all-weather road from the base camp at Rubkona to the Thar Jath location.
The testing is expected to last approximately 4 weeks.

After the test, the drill rig will be relocated to the Jarayan exploration target, approximately 13 kilometres south of Thar Jath.

IPC Sudan Limited has 40.4% interest in Block 5A. Partners are Petronas Carigali with 28.5%, OMW with 26.1% and Sudapet with 5%.

Lundin Oil is a Swedish independent oil company exclusively engaged in oil and gas exploration and production. The Company is producing oil and gas in the UK
sector of the North Sea and oil offshore Malaysia/Vietnam. The Lundin Oil Group has a development project in Libya and ongoing exploration projects in Libya,
Albania and the Sudan. The Company's shares are publicly listed on the Stockholm Stock Exchange (symbol ``LOILB'') and on NASDAQ (symbol ``LOILY'').
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