Lundin Oil (LOILY, LOILB Sweden) Message Board

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

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To: Greywolf who wrote (2491)	6/7/2001 9:12:59 PM
From: Tomas	of 2742

The Falklands: Smaller Company Tips: Desire - BUY Investors Chronicle, June 1 - Prospects in the Falklands still very promising - Timing of Falkland drilling programme still unclear ... Desire's drilling programme in 1998 revealed the North Falkland Basin to be the second richest hydrocarbon system in the world, with an unrisked, recoverable reserve potential of 2bn barrels. It's down there, but exactly where remains to be seen. Depending on rig availability Desire should commence another round of drilling early next year but the company's cash balance of GBP870,000 is not enough to support the expensive operation that would be involved. Currently, the group's directors are seeking farm-in partners - a typical deal would involve the farm-in company paying for the drilling costs for 50 per cent of the interest. ... Full article: Message 15911872

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