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Gold/Mining/Energy : TYK (VSE) Tanganyika Oil -- Ignore unavailable to you. Want to Upgrade?

To: Greywolf who wrote (277)	4/10/2000 5:08:00 PM
From: Donald Lickman	Respond to of 500

After what Lundin's are trying to pull off on Red Sea why in the world would anyone want to play any Lundin market. That's why their markets are so thinly traded. I was promoted on Red Sea as a Libya "pure play" and they promoted me on the enormous upside inherent in the potential "follow-on" discovery potential. What are we getting out of it. $2.17 per share in some Swedish company. I've already seen a securities lawyer to see if the shareholders have recourse.

To: Greywolf who wrote (277)	4/14/2000 10:53:00 PM
From: Tomas	Read Replies (2) \| Respond to of 500

Oil Prospecting to Continue in Tanzania DAR ES SALAAM, April 11 (XINHUA) - Oil search is expected to continue in Tanzania to quench the country's thirst for energy, according to Deputy Minister for Energy and Minerals Manju Msambya. Since late March, fuel price in Tanzanian pump stations have hit a record high, inflicting a heavy blow on local consumers. The official said on Monday at the National Assembly, which is now in session in the designated new capital of Dodoma in central Tanzania, that oil prospecting would continue despite the great loss of money. Foreign prospectors have invested more than 242 million U.S. dollars in search of oil in the east African country over the past 20 years but in vain, he said. The prospecting activities were first launched in the colonial era in early 1950s by two companies, British Petroleum and Shell. The exploration, funded by prospectors with assistance from the governments of Norway and Canada, cost a total amount of 242 million U.S. dollars from 1981 to 1999, he said. "Up to now we haven't been able to discover oil in the country," he said. However, the deputy minister said that the drilling rigs installed in the offshore waters of the Indian Ocean have discovered natural gas deposits. The prospectors first struck natural gas deposits at the Songosongo Island in Kilwa District in 1974 before hitting another gas deposit in 1982 at Mnaza Bay in Mtwara Region, all in southeastern Tanzania. Meanwhile, he disclosed that the Pemba Channel is believed to have great potential of petroleum reserves, although oil prospecting in the area has stopped. "A Canadian company, ANTRIM, is ready to start drilling for oil but we have to wait for a license from the Revolutionary Government of Zanzibar," he said. Zanzibar, consisted of the main Unguja island and its sister island of Pemba in the western part of the Indian Ocean, has its own government dealing with all matters except foreign and defense affairs since its emergence with the then Tanganyika to form the United Republic of Tanzania in 1964.