Lundin Oil (LOILY, LOILB Sweden) Message Board

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

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To: Timelord who wrote (498)	2/23/1998 10:47:00 PM
From: Tomas	Read Replies (1) of 2742

Alex: I expected them to announce the $300M credit during the road show. By the way, what happened to the road show sponsored by Morgan Stanley? Mid February is already behind us. Did you see the analysts report from Morgan Stanley dated January 19? "Sands Petroleum. A Play on Oil and Gas Exploration Success. Initiation of coverage with an outperform rating." Unfortunately, the En Naga discovery in Libya has not been included. But they write: "Even moderate success could lead to significant shareprice appreciation". And En Naga North is more than a moderate success! I'm not too impressed by their research. What about "We estimate Lundin Oil's 1998 production will be 114,200 boe/d". I wish it was true, but I'm afraid it's not... And I don't think they mean 14,200 boe/d, Sands is already producing around 17,000 boe/d. There are several other oddities in this report, but sure they take up a sympathetic attitude towards Sands.

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