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Gold/Mining/Energy : Lundin Oil (LOILY, LOILB Sweden)
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To: Greywolf who wrote (2199)3/20/2001 4:34:33 PM
From: hubbabuba2  Read Replies (1) of 2742
 
Just because they sold a big bloc doesn't guarantee a smart move. Agreed. But people who throw that kind of $ around tend to know what they are doing - or they don't do it for very long.

You're pretty much right about the flow rate stuff, except I think they could have been a little more specific.

Compare and contrast:
11/27/00: "In 1996 Lundin Oil started developing the fields, and in July 1997 the company started production from its Bunga Kekwa field. It has recently implemented a production enhancement program which has boosted average production from 13,500 bbls of oil per day to 15,000 bbls per day since 6 October 2000."

With

3/19/01 "Lundin Oil AB, through its wholly owned subsidiary Lundin Malaysia Limited, together with Petronas Carigali Sdn Bhd and PetroVietnam Exploration and Production, have completed the eighth development well on the Bunga Kekwa field, located in the PM-3 Commercial Arrangement Area, offshore Malaysia/Vietnam. The total production has, as a result, increased from 14,300 barrels of oil per day ("bopd") to 18,000 bopd (7500 bopd net to Lundin Oil)."

Apparently production had dipped back down 700 bopd. NOT A BIGGIE - NO RAPID FOAMING PLEASE!

Maybe it is all just the press. I just can't believe the markets can't see better through it. I'm sick of sub $2.00 BS - what ever the excuse.
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