Lundin Oil (LOILY, LOILB Sweden) Message Board

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

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To: Dark_Continent who wrote (2594)	6/28/2001 7:59:00 PM
From: Tomas	of 2742

Dark_Continent: You're not missing something, the value placed on the new company IS ridiculous. Total number of shares outstanding: 102 million (fully diluted: 106 million). That places a value of approximately 12 cents per share on the new company = US$12.5 million. The new company has: -- cash: US$5.6 million, no debt. -- 9.3% of all outstanding shares in U.S.-based oil company Khanty Mansiysk, market value approximately US$30 million. -- Sudan: approximately 100 million barrels of oil net to Lundin (not yet officially confirmed). Conservatively valued at just 85 cents a barrel, the Thar Jath discovery is worth US$80+ million. Exploration assets: -- 2 huge blocks in Sudan, the upside potential (barrels of oil) is a number of 10 digits. -- a 3-year option to purchase 100% of the existing Lundin Oil interest in Somaliland. -- Iran: soon to be announced, very soon -- Further down the road: New acreage in Libya + another country in Africa. -- New producing assets? I understand it's being negotiated. Don't know any details. <<I'm thinking about buying more - it seems like a no-brainer>> I agree!

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