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Gold/Mining/Energy : Lundin Oil (LOILY, LOILB Sweden)
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To: Timelord who wrote (270)9/3/1997 9:42:00 PM
From: Tomas   of 2742
 
Some info on the Malaysian project from the Lundin meeting yesterday:
Lundin Oil's total expenses in Malaysia (IPC + Sands) $195 MM, debt financing at least $150 MM (all papers will be signed before the end of this year), the remaining $45 MM is no problem according to Lundin. Cash + cash flow from Malaysia and the North Sea is enough, no need to dilute the stock, no emission plans.

If the Bunga Seroja appraisal drilling starting later this week and the 5-8 drillings early next year really confirm the early indications that the new gas field contains more than a trillion cubic feet of gas, then the phase 2 gas production estimated at 250 MMCFPD will be increased to 350-400 MMCFPD, a 40-60% increase. This would mean adding a few inches in diameter to the planned 22" gas pipeline, a decision to be taken by Petronas. No problems to find a market for all that gas, they could easily sell even more gas to the Malaysian gas net. Increased gas production would enable debt financing for more than the above mentioned $150MM.

Your Man in Sweden
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