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

To: Tommaso who wrote (1468)	1/20/2000 2:50:00 PM
From: Icebrg	Respond to of 2742

According to my thinking they are doing it in the proper way . One main concern for the Lundins must be to protect the capital they have built up. It is up to the individual investor to decide where and at what risk-level he would like to place his bets.

To: Tommaso who wrote (1468)	1/20/2000 8:28:00 PM
From: Tomas	Read Replies (1) \| Respond to of 2742

Tommaso: Red Sea Oil drilled an unsuccessful well in the Red Sea offshore Sudan 4 years ago. After that failure RSO was almost worthless, but the shareholders were not abandoned. IPC 1996 offered them it's concession in Libya, including Block NC-177. Price: 2 million common shares of RSO valued at $960,000 (and warrants entitling the purchase of up to 2 million common shares of RSO at a price of CDN$1.50 for a period of 12 months). The impact was a write down of IPC's oil and gas interests of $3.4 million. So, the wildcat entity RSO was not abandoned when the exploration failed, on the contrary!