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

To: Tomas who wrote (1479)	2/1/2000 8:53:00 PM
From: Tomas	Read Replies (1) \| Respond to of 2742

Papua New Guinea: Oil Search is one of the key players in the PNG-Queensland Gas Project with a major stake it holds through its interests in the major oil fields in Southern Highlands. It said progress has been made in confirmation of gas contract volumes to customers in Queensland, spurred by the announcement by the state government of its energy strategy. This has led to new contracts being negotiated with various customers and a material increase in firm gas volumes to be delivered from PNG, it said. "Of paramount importance to project sponsors is confirmation of gas volumes and contracts that underpin attractive economies for the project. Significant progress has been made on these issues in the last quarter," Oil Search said. Negotiations continued with Energex and Ergon to finalise the wording of conditional gas sales agreements that were started in the third quarter of 1999 and put in place sustainable back-to-back contracts with various electricity and industrial customers, it said. from The National, February 2 wr.com.au