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

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To: Tomas who wrote (842)	11/20/1998 10:30:00 PM
From: Tomas	of 2742

Hopes of Falklands oil find fizzle out. Financial Times, Saturday By Robert Corzine The Falkland Islands' nascent oil boom fizzled out yesterday after Royal Dutch/ Shell reported its second well drilled north of the islands in the south Atlantic was dry. The Fitzroy-1 wildcat well was the last of five that international oil companies drilled under the terms of a controversial licensing round that first opened the remote area to exploration. Shell said it discovered "hydrocarbon indications", but as with a well drilled earlier this year it found "no commercial volumes". Drilling in the south Atlantic provoked protests in Argentina. Officials from the Falkland Islands government conceded this year's collapse in oil prices meant there was little likelihood of an early return of the companies to the Falklands for a second round of drilling. __________________________________ My note: This was NOT the last of 5 wells, as the reporter writes, it was the 6th well. 1. Amerada, 2. Lasmo, 3. Shell, 4. Sodra, 5. Amerada again, 6. Shell's last well. Sodra made the same mistake in the 9 months report last week, and Lundin Oil repeated the mistake in yesterday's 9 months report. Have they all repressed one of the wells? :-)

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