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Gold/Mining/Energy : Lundin Petroleum LUPE Sweden

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From: TheRealJRL1/10/2008 2:53:25 PM
   of 646
 
Sudan Block 5B:NilePet is in, Ascom is out


For those of you who haven't read the financial reports from Lundin will you you a short resume about the situation in Sudan and Block 5B:

From the Q2 report:
"We have been asked by the National
Petroleum Commission to accommodate the national oil
company of the Government of Southern Sudan, “NilePet”,
with a 10 percent interest in Block 5B. Whilst this will
involve a small dilution to our working interest in Block 5B
we welcome Nilepet to the consortium. We believe that the
decision of the National Petroleum Commission and the
presence of both Sudapet (the oil company of the national
Government) and Nilepet in the consortium will allow
us to realise the excellent potential of this Block."


In the Q3 report:
"Whilst we have agreed to accommodate the national oil
company of the Government of Southern Sudan “NilePet” into
the Block 5B consortium we have not yet completed the
documentation in this respect"


And more from the Q3 report:
"There have been various press comments in relation to the
status of the Comprehensive Peace Agreement in Sudan between
the southern and northern governments and how this may affect
oil exploration and production activities.
There is a possibility that these ongoing discussions may
result in delays to the commencement of our exploration
drilling programme."

lundin-petroleum.com
lundin-petroleum.com

Yesterday this was published in the Sudantribune:
"According to the peace agreement, the two sides must
withdraw their armed forces respectively to the north and
south of the 1956 lines, to leave the oil production zones as
well as other strategic areas to be safeguarded by the joint
forces.

The northern Sudan army Wednesday completed a redeployment of
its troops from southern Sudan in accordance with a 2005
peace deal that ended more than two decades of north-south
Sudanese civil war.

In a celebration ceremony held at Rabkona, a small town in the
Unity State in southern Sudan, a flag of the Sudanese Armed
Forces (SAF) on the top of a pole was replaced by a flag of the
joint forces of the SAF and the former rebel Sudan People’s
Liberation Movement (SPLM).

"We announce today a completion of the re-deployment of the
Sudan Armed Forces (SAF) from all the regions (in the south)
according to the security arrangements of the Comprehensive
Peace Agreement (CPA)," Sudanese Minister of Defence,
Abdelrahim Mohamed Hussein, declared at the ceremony; the
official SUNA reported.

The minister of defence described the redeployment
completion as "a historic event," adding that it
coincided with the third anniversary of the signing
of the CPA.

He stressed the importance of a peaceful coexistence of tribes
on both sides of the boundaries between northern and southern
Sudan, which is well-known as the 1956 lines.

The Sudanese minister also expressed his confidence on the
strong will of the two peace partners to fully implement the CPA.

Pagan Amum, the minister for cabinet affairs and secretary
general of the SPLM, who attended the ceremony announced that
the SPLM finished on the same day the withdrawal of its forces
from the Blue Nile and South Kordufan areas north of the 1956
lines, SUNA said.

He noted that the redeployment of the forces of the two sides
represented a major step in the establishment of peace, adding
that the redeployment was a fruit of serious and continuous
work done by the political leadership of the two partners."

sudantribune.com
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