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Gold/Mining/Energy : Lundin Oil (LOILY, LOILB Sweden)
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To: Timelord who wrote (2112)3/6/2001 1:20:32 PM
From: Tomas  Read Replies (1) of 2742
 
Alex, note the following sentence in the Reuters article:

"The Thar Jath 1 drilling exploration was the first one carried out by this consortium in block 5A in Sudan, which has the potential to produce 4,620 barrels of crude oil per day."

Compare the above with the corresponding text in Lundin's and OMV's press releases:
"The well flowed at a cumulative rate of 4,260 barrels of oil per day, from three drill stem test over both zones."

I'm afraid Reuters Austria is guilty of confusing "a well's flow rates from drill stem tests" with
"the block's production potential".

Now THAT is a HUGE difference!
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