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

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To: Greywolf who wrote (819)	11/5/1998 8:13:00 PM
From: Tomas	of 2742

Falklands: Amerada indicates data gathered so far looks relatively promising The Oil Daily, November 3: The future of the Falklands oil sector hangs in the balance, as an Amerada Hess Corp.-led consortium on Friday plugged and abandoned the last of five obligatory wells that four consortia had committed to drilling. Two earlier wells, including Amerada's first, had oil or gas shows, albeit not in commercial quantities. The driller of the other well with hydrocarbon shows, the 70-30 partnering of Shell Exploration and Production South West Atlantic with Agip Exploration, has committed to drilling one optional well. If the Shell well -- expected to be completed by the end of November -- is also abandoned, the consortia will have to decide whether to continue drilling optional wells or pack it up. Amerada indicated the data gathered so far looks relatively promising. " The two wells on Tranche A have established good source rocks and potential reservoir rocks," it said. The Tranche A consortium "will next assess the data gathered from their two wells and determine forward strategy for the acreage," Amerada said.

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