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

To: Tomas who wrote (1503)	2/26/2000 11:55:00 PM
From: LARRY LARSON	Read Replies (1) \| Respond to of 2742

Hi Kids- From Yahoo: Finance Home - Yahoo! -------------------------------------------------------------------------------- Banking in California? View your Bank of America accounts on Yahoo! Top>Business & Finance>Investments>Sectors>Energy>Oil and Gas Operations> TLM (Talisman Energy Inc.) Message Boards : TLM Help - Add to My Yahoo! - Sign Out Enter symbol: symbol lookup More Info: Quote & News \| Profile < Previous \| Next > [ First \| Last \| Msg List ] Reply What do you think of this? by: The_real_Svempa (58/M/Sweden, close to Gothenbu) 2/26/00 11:14 am Msg: 1570 of 1571 This I found on a Swedish chatpage, no link given, no confirmation possible. I have searched the Web to no avail. A forgery? Anybody care to comment? OK, here goes: Friday Feb 25, 5:47 am Eastern Time Talisman to acquire IPC Sudan Ltd. and its Sudan oil By Jason McAllister CALGARY, Alberta, Feb 25 (Energy News) - Talisman Energy Inc., one of Canada's leading international oil producers, is according to independent anonymous sources likely to launch a takeover bid for IPC Sudan Ltd. with the aim of gaining full control in a large and controversial oil development project in Sudan. Talisman's US 3-400-million offer follows IPC Sudan Ltd.'s suspended testing operations on the Thar Jath no.1 well on Block 5A onshore Sudan. It signals the end of IPC Sudan Ltd.'s quest to bring the project to fruition. The Thar Jath discovery could be the largest find in country and in the block and substantial net pay has been logged in intervals comparable those currently being developed by Talisman nearby. The Talisman offer to buy IPC Sudan Ltd is seen as a logical step for the Talisman Sudan development, which includes wells expected to pump 150,000 barrels oil by 2000 and a 930-mile (1,500-km) pipeline to the Red Sea from civil-war-torn southern Sudan. "The play is too big for IPC Sudan Ltd.," " anonymous Wall Street portfolio managers says. "We see this as a legitimate succession of activity: a small, single-purpose company scares up a project, is unable to handle it and passes it on to a company such as Talisman." The deal would allow Lundin oil AB investors to reap the rewards of the Sudan project as well as other, and numerous, plays in Libya, Malaysia/Vietnam, the North Sea, Albania, Somaliland and Papua New Guinea. Lundin Oil is about to embark on a heavy work programme in its main areas of operation, i.e. Malaysia and Libya. According to May 1999 testings probable reserves total an estimated 350-450 million barrels. Lundin Oil AB 's likely to accept the deal if their financial advisers agrees upon it from a financial standpoint. IPC Sudan Ltd.'s only shareholder, Swedish-Canadian oil concern Lundin Oil AB which controls 100% of the shares, will then probably agree to tender its holdings. "It's a great deal for Talisman and its a very good deal for IPC Sudan Ltd. and Lundin Oil AB shareholders," Wall Street portfolio managers says."If the circumstances were different, they could have got a whole lot more for their stake. But circumstances being what they are - politically and lack of financing availability for the Sudan - it's probably the best that can be done in the market. " Sudan's political risk, has been cited as one factor behind Lundin Oil 's weak stock price. Lundin Oil 's likely to have proven and probable reserves greater than the current offer still not yet discounted in their extremely low stock price. The rebel Sudan Peoples Liberation Army, which has said it wanted no oil development until the long-running, north-versus-south civil war is resolved, has threatened attacks on IPC Sudan Ltd. and its partners. Lundin Oil shares are quoted on the Stockholm Stock Exchange and the Nasdaq market and Talisman shares are quoted on the New York Stock exchange and The Canadian Stock Exchange.

To: Tomas who wrote (1503)	3/1/2000 8:04:00 AM
From: Tomas	Read Replies (1) \| Respond to of 2742

Libya Invites Petronas To Increase Investments KUALA LUMPUR, Feb 28 Asia Pulse - Libya wants Petronas to establish itself in its downstream oil market and for Proton to sell its cars there as well as North Africa, said a Libyan trade official. Dr Abdel Hafeez Mahmoud Elzelini, Libya's Secretary of the General People's Committee for Economy and Trade, said such endeavours would be part of efforts to boost trade and investment with Malaysia. "Libya wants to see more discussions taking place between Petronas and Libyan refineries and its petrochemical industry," said Dr Elzelini in an interview over the weekend after meeting Petronas officials here. He said Petronas' future programme in Libya was discussed and expected the Malaysian national oil corporation to increase its investments in Libya. Petronas is already involved in a concession to explore for oil in the Libyan-Tunisian border. "What remains is for Petronas to establish itself and expand its activities in Libya," he over the weekend. Dr Elzelini, who led a Libyan trade delegation here, said there were also opportnuities for Malaysia's automotive and palm oil industries in Libya. He said there was also discussion on selling Proton cars and making car components in Libya. "Cars produced in Malaysia are competitively-priced and what needs to be done now is to open the (Libyan) market for them through some marketing," he said. From Libya, he said Malaysian cars can also be sold to other nearby markets. On palm oil, Elzelini saw opportunity in the commodity being used as a raw material for making soaps and detergents. Libya was now developing a light industry to manufacture soaps and detergents, he said, adding that 80 percent of Libya's requirement for edible oil was fulfilled by importing sunflower and corn oils. At present, he said the trade ties between Libya and Malaysia were not as strong as their political and social relationships, adding that economic sanctions imposed on Libya by the United Nations for about seven years had brought about the low-key trade situation. Dr Elzelini said a seminar was being planned in Kuala Lumpur for the Malaysian private sector to be exposed to the trade and investment potential in Libya and North Africa. Malaysian companies were also expected to participate in an international trade fair in Libya in April, he added. Besides the oil and gas sector, Dr Elzelini said the other promising sectors in Libya were manufacturing, tourism and transit trade. He expected Libya's economy to grow by about 5.5 percent this year, based on the new investments flowing inand improved oil prices and export revenues. (Bernama)