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

To: Tomas who wrote (1376)	11/26/1999 10:27:00 AM
From: Tomas	Read Replies (1) \| Respond to of 2742

New production well spudded on Bunga Kekwa, Malaysia Friday, November 26 Lundin Oil AB is pleased to announce that its wholly owned subsidiary, Lundin Malaysia Limitet ("LML") has spudded production well A7 on the Bunga Kekwa field on Block PM-3 CAA, offshore Malaysia and Vietnam. Well A7 is being drilled directionally from the Kekwa Alpha platform and is targeting the western flank of the the field, southeast of well A4 which has produced approximately one-third of the production from Block PM-3 to date. The total current production from the block is approximately 13,500 barrels per day (5,600 barrels per day net to Lundin Oil). The A7 well is expected to add 2,000 to 3,000 barrels gross production per day. For the drilling of the well, LML has farmed into the jack-up drilling unit, Harvey Ward, currently under contract with Petronas Carigali Sdn Bhd. Lundin Oil AB has a 41.44 percent working interest (held through Lundin Malaysia Ltd. 26.44 percent and Lundin Malaysia AB 15.00 percent) and is the operator of Block PM-3 CAA. The remaining interest is held by Petronas Carigali Sdn Bhd with 46.06 percent and PetroVietnam Exploration and Production with 12.5 percent. For further information, please contact: Magnus Nordin Tel: +46 8 440 54 50 Sophia Shane Tel: +1 604 689 7842 cgi.algonet.se