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

To: Tomas who wrote (1268)	8/31/1999 11:23:00 AM
From: Tomas	Read Replies (1) \| Respond to of 2742

Sudan launch - Calgary Sun, August 31 Ceremony marks Talisman exports By GLEN WHELAN The first crude oil exports moved yesterday from a Sudanese energy project that has placed Calgary-based Talisman Energy Inc. at the centre of an international controversy. In a ceremony presided over by President Omar Hassan al-Bashir, 600,000 barrels of crude oil destined for Singapore were loaded at a Red Sea export facility south of Port Sudan. For Talisman, it's the latest chapter in a project that's seen it become the only western corporate interest in the war-ravaged country and a lightning rod for criticism from human-rights advocates worldwide. Talisman says the project, which aims to exploit two oilfields with estimated reserves of 800-million barrels of oil, will help provide Sudan the economic stability it needs to develop its infrastructure -- and perhaps move beyond its 16-year-old civil war. But critics contend the multi-billion-dollar project will only line the pockets of an extremist Islamic government committed to slavery and bent on genocide. Earlier this month, American Anti-Slavery Group called on investors to sell interests in Talisman, saying they were providing capital to fund the murder and enslavement of indigenous tribes. The war for southern autonomy in the north African nation of Sudan has left two- million dead and twice that number displaced from their homes. Southern rebels recently threatened to blow up the 1,600 km pipeline that will carry oil from the Heglig and Unity oil fields to the export station on the Red Sea. But Talisman president and chief executive Jim Buckee said the first shipment marked "a great day for the people of Sudan. "The timing of first sales is fortunate with WTI benchmark oil prices now over $21 per barrel," he said. "We are now looking at plans to increase production beyond the 150,000 barrels per day anticipated for next year." Production from the two major oilfields now sits at 120,000 barrels per day. canoe.ca