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

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To: Tomas who wrote (756)	10/7/1998 1:42:00 AM
From: balisurf	Read Replies (2) of 2742

Re:Vietnam gas contract Currently the Vietnamese government has been deadlocked in gas price negotiations with the ONGC/BP Con Son basin gas consortium. The group wishes to bring on the 2TCF Lan Do and Lan Tae gas fields and ship the gas onshore Vietnam. In Vietnam the production splits for gas are negotiated after discovery..not before (crazy) and the government is currently offering $1.50/mcf which is way too low. the groups wants somewhere in the order of $2+/mcf. By the Vietnam government agreeing to phase 2 in PM-3 at the negotiated gas price, it may erode their bargaining position with ONGC/BP. I'm just speculating on this, but it would seem reasonable.

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