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Gold/Mining/Energy : Lundin Oil (LOILY, LOILB Sweden)
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To: virginijus poshkus who wrote (2076)2/27/2001 1:31:19 AM
From: Tomas  Read Replies (2) of 2742
 
vargas: Yes, Lundin has 100% of the En Naga field in Libya. I expect first oil to commence in September. No need to wait until 2002 (see yesterday's press release). The project has already been delayed more than once, that's true, but yesterday they cleared the last remaining bureacratic hurdle. According to the Middle East Economic Digest, the project is not expected to take more than 6-7 months to complete.

We can look forward to very good news from Sudan next week. I'm almost sure the Thar Jath discovery is commercial, 250-300 million barrels recoverable (Lundin Oil owns 40.375%).
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