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Gold/Mining/Energy : Red Sea Oil Corporation (RSO) -- Ignore unavailable to you. Want to Upgrade?

To: Donald Lickman who wrote (329)	5/9/2000 5:13:00 PM
From: Greywolf	1 Recommendation Read Replies (1) \| Respond to of 332

Final Court Order Received Approving Plan of Arrangement, VANCOUVER, BRITISH COLUMBIA--Red Sea Oil Corporation (the ``Company'') is pleased to announce that the final court order from the Ontario Superior Court of Justice has been received approving the Plan of Arrangement whereby Lundin Oil will acquire all of the issued and outstanding common shares of Red Sea Oil not already owned by Lundin Oil and its affiliates. Pursuant to the plan of arrangement, Red Sea Oil shareholders will receive 0.47 shares of Lundin Oil AB [NasdaqSC:LOILY - news] Global Depositary Shares (``GDS's''). One GDS is equivalent to one Lundin Oil Series B share. The GDS's trade on NASDAQ in $US funds but may be converted to Lundin Oil AB Series B shares which trade on the Stockholm Stock Exchange in Swedish Krona. Trading of the shares of Red Sea Oil Corporation will be halted at the close of business today, May 9, 2000 pending completion of the Plan of Arrangement, upon which time the shares will be delisted from the Canadian Venture Exchange.