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Gold/Mining/Energy : Lundin Oil (LOILY, LOILB Sweden)
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To: balisurf who wrote (322)10/1/1997 1:33:00 AM
From: Tomas   of 2742
 
balisurf: Appreciate your info as always, thank's for keeping us updated.

<<...producing Bunga Kekwa without a unitization agreement with Fina who has drilled one well into the same structure on the Vietnam side. There may be effects from this with regard to timing of phase 2 development.>>

According to Sands Petroleum a delay of phase 2 development is very unlikely. If it comes to the worst they may lose 5-10% of the Bunga Kekwa reserves (only a couple of percent of PM-3) to Vietnam, but this is still very hypothetical. They are more likely to gain around 30% in the Kekwa flank. Vietnam also has a 12,5% interest in IPC's PM-3 concession.
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