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Gold/Mining/Energy : Lundin Oil (LOILY, LOILB Sweden) -- Ignore unavailable to you. Want to Upgrade?

To: Tomas who wrote (1178)	7/7/1999 1:28:00 PM
From: Tomas	Read Replies (1) \| Respond to of 2742

Falkland Islands Offshore Oil Exploration And Onshore Geological Activities July/August 1999 Newsletter Offshore Oil Exploration: Concluding Phase of Well Data Analysis Analysis of the well data acquired last year when Amerada Hess, LASMO and IPC (SODRA) drilled six wells in their licensed blocks in the North Falkland Basin is reaching completion. A picture of the hydrocarbon potential for the area is emerging and a review for the general public of the findings is planned for later this year. The third anniversary of the production licences is still some months away (November) and is remarkable that six exploration wells drilled so early in the programme considering the relative remoteness of the offshore acreage. The fast track approach has provided the Falkland Islands Government with a vast amount of information that might not have been realised if the industry had waited some years before conducting a drilling phase. Licences permit the search for petroleum over three exploration periods comprising five, seven and ten years and include payments of annual acreage rentals. At the end of each phase a percentage of each acreage is automatically relinquished. An exploration phase may be started only after the approval by the Governor of a development plan. The Department of Mineral Resources maintains regular contact with licences even when there is no activity offshore. Monthly reports on progress with work programmes are submitted by all operators in addition to well data and operational reports. FIG Meet with Shell in Rijswick, Holland: FIG together with a British Geological Survey (BGS) representative met with the Shell team in their Rijswick offices in Holland at the end of May for a presentation on the findings from their two wells and their operational activities. As with other operators, Shell was very positive about using the Falklands as an exploration base. Weather conditions offshore proved to be more benign than expected and the services and support for the campaign demonstrated that the Islands are well placed to cope with single string frontier drilling. Future Exploration Activities: While oil prices remain unstable and world supply outstrips demand, high risk exploration areas such as the Falklands are unlikely to attract hard sought exploration funds in oil company budgets at present. However, the growth of activity offshore Brazil is considered a bonus for licence holders in the North Falklands Basin. A number of major oil companies have been awarded licences by the Brazilian Government and operators expect the activity of survey vessels and rigs to increase in the South Atlantic in the next year or so. FIG, meanwhile continues to encourage the oil industry to review Falklands Data, establish joint ventures with licence holders and acquire new Data so to increase the understanding of the hydrocarbon potential for the longer term. sartma.com

To: Tomas who wrote (1178)	7/13/1999 6:06:00 PM
From: Tomas	Read Replies (1) \| Respond to of 2742

Sudan: Khartoum, July 13 (SUNA)-- The Minister of Energy and Mining, Dr. Al-Jaz, met Tuesday a delegation of the ENOK Company of the United Arab Emirates. The delegation got acquainted with the investment opportunities available in Sudan at the oil field, besides the work progress during current phase as regards exploitation of the Sudanese petroleum and the situation of basic infrastructures for industry in the country. He stressed that preliminary studies proved that there are indications for existence of oil at different parts of the country, adding that concessions for investment in this regard are to be allocated for the various international companies after completion of studies.