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

To: Tomas who wrote (1329)	9/21/1999 11:42:00 PM
From: Tomas	Read Replies (1) \| Respond to of 2742

Sudan: Pipeline Explosion May Signal Opposition's Impatience - Stratfor Commentary, September 22 The rebel attack on the newly inaugurated Sudanese oil pipeline on Sept. 19 may be an indication that the Umma party - a group of Northern politicians ousted by the current government - is becoming impatient with the course and pace of the current Libyan/Egyptian-sponsored negotiations. The rebels know that the Sudanese government is concerned about the future of its infant oil business and has pursued intensive peace efforts over the last several months to protect it. By striking the vulnerable oil pipeline the rebels are sending a clear signal to the government to make concessions now or face continuing attacks. The attack was carried out near the town of Atbara, north of Khartoum, and was clearly the work of the Umma Liberation Army (ULA). The government claims that it found an ULA insignia at the sabotage site and ULA Gen. Abdel-Rahman Saeed said, "Our forces were ordered to carry out a special operation." While not claiming direct responsibility, Ahmed Hassan, the spokesman of the Umma party, the political wing of the ULA, told Agence France-Presse, "exports of oil are vulnerable and can be protected only by a political agreement among all parties." Curiously, Sadiq al-Mahdi, who is head of the Umma party as well as the National Democratic Alliance (NDA), which includes all anti-government forces, denied that his party was involved. Al-Mahdi's denial may be tied to his political role since he has been the chief representative of the NDA at ongoing peace efforts mediated by Libya. In order to preserve his legitimacy as a negotiator, Al-Mahdi must deny that Umma's political wing was involved in the attack. The attack is a clear signal that Umma wants to dictate the terms of any eventual settlement. While the sabotage apparently only caused a two-day disruption in the oil flow, it is clear from the Umma statement that more attacks will follow if its terms aren't met at the negotiating table. stratfor.com

To: Tomas who wrote (1329)	9/23/1999 12:33:00 PM
From: Tomas	Respond to of 2742

New Production Well To Be Drilled: Block PM-3 CAA Offshore Malaysia/Vietnam VANCOUVER, British Columbia--(BUSINESS WIRE)--Sept. 23, 1999-- Lundin Oil AB is pleased to announce that the Block PM-3 partners (Lundin Oil Malaysia Limited, Petronas Carigali Sdn Bhd and PetroVietnam Exploration and Production) have agreed to drill production well A7, on the Bunga Kekwa field on Block PM-3 CAA, offshore Malaysia and Vietnam. Well A7 is to be located on West Bunga Kekwa, southeast of well A4 which has produced approximately one-third of the production from Block PM-3 to date. The PM-3 partners will farm into the Petronas Carigali Sdn Bhd drilling rig contract and expect to spud the A7 well at the end of November, 1999. It is expected that this well will produce about 2,000 to 3,000 barrels of oil per day (``bpd'). The total current production from the block is approximately 14,000 bpd (5,600 bpd net to Lundin Oil). Ian Lundin, President of Lundin Oil AB, said ``It is expected that the drilling of the A7 well will materially increase production levels extending the economic life of Phase I well into the next decade. The most recent Malaysia PM-3 lifting realised in excess of US$21 per barrel.' Meanwhile, Phase II of the project, which envisages boosting production to 40,000 bpd of oil and 250 mmscf/day of gas by the second half of 2003, is awaiting the signature of a Gas Sales Agreement between the contractors, Petronas and PetroVietnam. This agreement is in the final stages of negotiations and Lundin Oil is confident that it will be finalised prior to the end of the year. Lundin Oil AB has a 41.44 percent working interest (held through Lundin Malaysia Limited - 26.44 percent and Lundin Malaysia AB - 15 percent) in Block PM-3 CAA. Lundin Malaysia Limited is the operator of the Block. The remaining working interest is held by Petronas Carigali Sdn Bhd with 46.06 percent and PetroVietnam Exploration and Production with 12.5 percent. NOTE: Location map available from the company at the number listed below. Contact: Lundin Oil AB Magnus Nordin, 011/46 8 440 54 50 or Sophia Shane, 604/689-7842 biz.yahoo.com

To: Tomas who wrote (1329)	10/20/1999 8:07:00 AM
From: Tomas	Respond to of 2742

Vietnam Says to Sign $1.5 Billion Gas Contract With BP, Statoil This Year Singapore, Oct. 20 (Bloomberg) -- Vietnam said it expects to sign an agreement by the end of this year with BP Amoco Plc and Statoil AS for a $1.5 billion pipeline to pump natural gas from a field off Vietnam's coast. The project will be Vietnam's single largest foreign investment and help the country tap gas discovered off its coast to run power plants, said Vu Huy Hoang, vice minister of the Ministry of Planning and Investment. ``We hope to sign the agreement by the end of this year,' said the vice minister. BP Amoco will own 24 percent of the proposed company, Statoil will own 30 percent and PetroVietnam, Vietnam's state-owned energy company, the rest, he said. Vietnam is courting foreign investment to boost its economic potential in energy and other industries as it strives to recover from Southeast Asia's recession. Unocal Corp., a California-based oil and gas producer, said it signed a contract with Vietnam's leading energy company to explore and share output from a gas field, its third such contract in Vietnam. The signing of the pipeline contract has been delayed as Vietnam lost one of its biggest prospective customers after Thailand canceled a plan to buy piped natural gas from Vietnam. ``Thailand won't buy anymore from Vietnam, they said they have enough,' said Vu. quote.bloomberg.com ____________________________________________ Vietnam initials gas pipeline deal HANOI, Oct 19 (Reuters) - Vietnam and an alliance of BP Amoco (quote from Yahoo! UK & Ireland: BPA.L) and Norway's Statoil [STAT.CN] have initialled a contract to build a $400 million gas pipeline as part of a key energy development, a source close to the deal said on Tuesday. The source said the Business Cooperation Contract (BCC) was initialled on Monday. Under the agreement, Vietnam oil monopoly Petrovietnam has 51 percent equity in the pipeline and BP Amoco and Statoil the rest. The 390 km (244 mile) pipeline forms part of the long-delayed $1.5 billion Nam Con Son integrated gas project, which aims to tap proven gas reserves of 58 billion cubic metres off Vietnam's southern coast. The Nam Con Son basin itself will be exploited by a consortium of Petrovietnam, BP Amoco, Statoil and India's ONGC Videsh Ltd . ``Yesterday, the BCC for the pipeline was initialled, which is another step forward. We have not formally signed anything,' the source told Reuters. ``We have still yet to reach final agreements on other outstanding issues.' Officials hope to have final agreements on the overall project, which includes a combined power and fertiliser plant, in place by the year-end. Those agreements should include an investment licence for the pipeline. The gas to be extracted lies in Block 06.1 in the Lan Tay and Lan Do fields and was first discovered in 1993. biz.yahoo.com