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

To: Tomas who wrote (1259)	8/30/1999 5:30:00 PM
From: Tomas	Read Replies (2) \| Respond to of 2742

Falkland Islands Offshore Oil Exploration Activities September/October Newsletter Department Of Mineral Resources September/October Report Desire Petroleum PLC Approval has been given by the Falkland Islands Government for LASMO International Limited to assign their licences for Tranches "C" and "D" in the North Falkland Basin to Desire Petroleum PLC. Desire now become sole owners of the licences and take their ownership. The Company will be seeking joint venture partners in order to prepare for future work programmes. Interpretation of 2D seismic data acquired over Tranches "I" and "L" by Desire in the North Falkland Basin last year is nearing completion both by the company and by the British Geological Survey on behalf of the Government. Review of Licensing Policy Several countries have sought to improve their oil company interest in their offshore areas by moving to "out of round" licensing. Countries that have made this move include Kalaallit Nunaat (Greenland) and Namibia whilst the UK's DTI may move to "open door" licensing in some areas of the UK Continental Shelf. Following a number of enquiries from oil companies interested in applying for exclusive licences to explore for hydrocarbons in areas other than those licensed in November 1996, the Falkland islands Government is considering changes to licensing policy in order to maintain interest from the industry and to acquire more data over the region. Necessary legislative changes are being addressed to accommodate new policies. Association Of American Petroleum Geologists (AAPG) Convention The Falkland Islands Government will have a stand at the AAPG Convention to be held in Birmingham, England from 12 to 15 September. Technical evaluation on the findings from the exploration drilling phase will be provided by British Geological Survey (BGS) and Councillor John Birmingham will attend as well as the Director Of Mineral Resources. This will be the first opportunity to expand on last year's activities offshore since the major part of the assessment has been completed by BGS on behalf of the Falkland Islands Government and the oil companies. Much of the detail is, of course, confidential and "owned" by the exploration companies for up to five years but a clearer picture of the North Falkland Basin is emerging even only after six wells have been drilled. British Geological Survey: Visit to the Falklands Dr. Phil Richards from BGS will be in the Falklands in early October to make a presentation on the findings from the exploration campaign to Councillors and the Oil Committee. He will also give a presentation at a public meeting planned for Wednesday, October 6th at 7:00 PM. (Venue to be confirmed) in Stanley and at Port Howard on Thursday, October 7th. FOSA Environmental Workshop Close-out Report A copy of FOSA's Environmental workshop Close-out Report is available to read in the Community Library. There are also some copies available on request from the Department of Mineral Resources. The Report includes chapters on Seabirds/Cetaceans and Penguin Tagging Studies funded by the Oil Companies last year as well as a summary of costs related to environmental data acquisition during the first drilling campaign. sartma.com