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

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To: Timelord who wrote (2059)	2/23/2001 12:16:52 PM
From: Tomas	Read Replies (2) of 2742

Alex: <<news on the exploration well in Malaysia was overdue and there was no mention of it in the press release summary>>... Quote from press release Feb.8: "Lundin Oil... have commenced drilling the eighth development well on the Bunga Kekwa field, offshore Malaysia/Vietnam. A ninth well will be drilled immediately following. After completion of the two development wells, the drilling unit will be mobilized to the nearby East Bunga Raya exploration well location, in order to test a large prospect with shallow gas bearing sand channels and deeper oil targets." Press release Jan.15: "The changes in the program were necessitated by weather conditions and by the desire to accelerate the increase in production from the Bunga Kekwa field. The field is currently producing at an average rate of 14,700 BOPD which is expected to increase to approximately 17,000 BOPD with the new development wells on stream."

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