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

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To: Tomas who wrote (1069)	5/9/1999 10:41:00 AM
From: Razorbak	Read Replies (1) of 2742

<<7 of 8 wildcat wells successful in Sudan!>> Tomas, the above summary may be a little misleading. Talisman's press release actually stated the following... <<The exploration program has been very successful, with 16 of 17 exploration and appraisal wells encountering hydrocarbons. This includes seven of eight wildcat wells. Testing of these exploration wells has been limited while priority is being given to completion of existing development wells.>> IMO, 7 of 8 wildcat wells were technical successes, but probably not all of them can be considered commercial successes. Remember the Umm Sagura well back in 1997 (a/k/a/ Pink Panther)? If I remember correctly, that well was a technical success, but a commercial dry hole. Just my two cents. Razor

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