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Gold/Mining/Energy : Lundin Oil (LOILY, LOILB Sweden)
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To: arakisman who wrote (656)7/15/1998 12:53:00 AM
From: Greywolf  Read Replies (1) of 2742
 
Magnus Nordin's reply,

to that question was that Lundin Oil is only one of three major share holder's and as such it has to look towards the other's for the future. This is not verbatim, yet I got the feeling that the trojka Petronas, China Petroleum and Lundin Oil are somehow acting together on this one.

The sentiment in Sweden seem's to be that Lundin should buy Arakis right out, yet I don't think this is a viable option. Although Lundin is known for taking the least viable option and making it work.

Arakis is up the creek and with less than a paddle it is only a matter of time. The trojka will not have to worry about US sanctions which a interested party from that continent would have to. I seem to recall that a Canadian company wanted to put it's finger in the Arakis pie yet they would also be included in the ban on trade, or near ban on trade with the Sudan.

Sweden need's a wake up call when it comes to oil related stock's, and commodity stock's in general so if the market is looking for momentum from Stockholm it better not hold it's breath. It's all IT here at the moment. Even so I think there could be enough interest around that if needed Lundin could issue more stock to pay for Arakis. Let's hope he can pull it off without that road less travelled.
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