Lundin Oil (LOILY, LOILB Sweden) Message Board

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

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To: mike h who wrote (513)	3/7/1998 9:47:00 AM
From: Tommaso	Read Replies (2) of 2742

Sounds to me like a way to raise some cash quickly. Since US and Canadian shareholders can't participate, I haven't paid much attention to it. These rights are probably not worth very much--and will be sold on behalf of unqualified investors (me). I guess a check for a few dollars will turn up in my brokerage account at some point. Am I right? Anyone studied it more carefully? It is a typical Lundin way of doing things--except that this time I find my interests more aligned with theirs than usual. It means that they are not very confident of finding oil near the Falklands and want to cut the risk in half. Also watch for an effort by Sands, after it becomes Lundin Oil, to acquire Arakis through an issuance of Sands stock, possibly in collaboration with a major oil company--maybe even an American one, if the relations with the Sudan can be improved. Though possibly the Sands interest in Arakis mainly has to do with guaranteeing access to the pipeline for shipping production from the concession that Sands already has. See Arakis thread for endless discussion of all this.

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