Lundin Oil (LOILY, LOILB Sweden) Message Board

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

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To: Razorbak who wrote (928)	2/25/1999 7:17:00 AM
From: Greywolf	of 2742

Meeting with Magnus Nordin, I have translated sign Redman's notes published on a Swedish site dib.se At an information meeting with Magnus Nordin on the 24/2 Magnus Nordin gave his views on a few matters. Adolf Lundin was supposed to be there but was at the last moment detained with other "pressing matters"... Tenke? MN talked about the price of oil... yet closer to home he accounted for Lundin Oil's current production cost's per barrel as follow's; North Sea - $5,75 Malaysia - $4,50 Libya - about $2 Malaysia - the extension of the Malaysian field is on hold ("mothballs" MN's words) at the moment and will be put forward 2 to 3 years due to the low price of oil. Nothing seem's to have been said about the sale of part of the field. Libya - will see two drills this year. The development plans seem to be on the same track as before ie drill and submit and wait for the Libyans to OK! Sudan - one drill during the second quarter. Pipeline is well on the way to completion. end, Greywolf

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