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Gold/Mining/Energy : Lundin Oil (LOILY, LOILB Sweden)
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To: Greywolf who wrote (645)7/6/1998 1:52:00 PM
From: Greywolf  Read Replies (1) of 2742
 
In the better late than never department;

25/6/98

Formal pre-admisssion notice submitted to AIM

Sodra Petroleum AB yesterday submitted its formal pre-admission notice to AIM, the
Alternative Investment Market, a market regulated by the London Stock Exchange.
An admission prospectus is currently being finalised and trading on AIM is expected to
commence in early to mid July.

Sodra Petroleum is 52.4% owned by Lundin Oil AB and Sodra's sole business is the
exploration for and development of oil and gas offshore the Falkland Islands. Sodra
Owns 100% of the Tranche F licence offshore the Falkland Islands.

The total number of shares in Sodra amount to 81 012 976 divided into two classes of
shares common shares and convertible shares. There are 40 506 500 common
shares outstanding all of which are owned by Lundin Oil and 40 506 476 convertible
shares outstanding. The convertible shares can be converted to shares of Lundin Oil
during the period November 5 to 23, 2001. Twelve Sodra shares plus SEK .50 can be
converted to 1 new share of Lundin Oil. Apart from this conversion right the two
classes of shares are equal in all respects. Of 3 million convertible shares originally held
by Lundin Oil, 1 million has been placed and Lundin Oil's remaining 2 million
convertible shares will be placed in the UK market before trading on AIM commences.

The shares to be admitted to AIM are the convertible shares. These currently trade on
the New Market of the Stockholm Stockexchange (symbol SODR) and the AIM
quotation will be in addition to the Stockholm listing.
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