Lundin Oil (LOILY, LOILB Sweden) Message Board

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

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To: balisurf who wrote (755)	10/6/1998 2:53:00 PM
From: Tomas	Read Replies (2) of 2742

balisurf: Well said. "One of the most undervalued stocks right now", are you referring to Red Sea Oil or Lundin Oil or both? As to Malaysia, in June you wrote about a large US multinational interested in acquiring part of PM-3. That's what I heard too. Do you know what happened after that? Now I hear a large European multinational is close to a deal with Lundin, they intend to buy 1/2 of Lundins 41,44% interest in PM-3. Lundin Oil have recently officially confirmed their interest in selling a part of the Malaysian assets. They want to use the money in Libya instead, the potential in NC-177 is HUGE, 2.7 billion barrels of oil (unrisked). "I'm convinced we have at least 1 billion barrels" Alex Schneiter said. Alex is the geologist who found the En Naga North field, and recently the successful J1-85 well. By far the most important issue now is the signing of the gas contracts in Malaysia. Why are the Vietnamese dragging their feet, any insights?

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