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

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To: Tomas who wrote (2182)	3/17/2001 11:36:07 AM
From: Tomas	of 2742

OT: Repsol, OMV, TotalFinaElf and Norway's Saga Petroleum Announces New Libyan Discovery By Jeffrey T. Lewis and Gabriel Lazarus Madrid, March 16 (Bloomberg) -- Repsol YPF SA, Europe's fifth-largest oil company, said it discovered oil at a second well during exploration in Libya. The well in the Murzuq Basin, 800 kilometers south of Tripoli, produced oil at a rate of 1,300 barrels a day in production tests, the company said in a press release. Repsol is testing the site on behalf of a group of oil companies including Austria's OMV, Total Fina Elf, the fourth-biggest publicly traded oil company, and Norway's Saga Petroleum. Repsol began searching for oil in the area in May 1998, when the Libyan government granted approval for exploration and production sharing arrangements with foreign companies.

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