Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Tomas who wrote (1738)	6/26/2000 6:54:00 AM
From: Tomas	Read Replies (1) \| Respond to of 2742

Papua New Guinea Sees Gas Project Settled by August (Update2) By Stephen Wisenthal Darwin, Australia, June 26 (Bloomberg) -- Papua New Guinea said it expects to complete talks on taxes within two months with Oil Search Ltd., Chevron Corp. and other developers of a $3.5 billion project to pipe natural gas to Australia. Papua New Guinea officials have spent six weeks negotiating with project developers, landowners and local government, on tax levels and central government plans for a 30 percent stake in $1 billion of infrastructure, including processing plants and pipelines on the New Guinea side of the border with Australia. ``I am optimistic that these issues can be settled by the end of August,'' said Joseph Gabut, Papua New Guinea's secretary for petroleum and energy. Mineral-rich Papua New Guinea, a developing nation of 4.6 million people, could boost revenue by exploiting gas reserves that far outweigh local demand if it can pipe the fuel 3,000 kilometers south across the Torres Strait to power stations and other customers in Australia's Queensland state. Oil Search and Chevron said earlier this year they reached an agreement that will make Exxon Mobil Corp. and Santos Ltd. full participants in the gas project, one of the largest energy developments currently being planned in Asia. The PNG government and the pipeline backers need to agree tax levels and investment plans by the end of August to stay on schedule and begin a detailed engineering design of the pipeline by the end of September, Gabut said. Australian Gas Light Co., Australia's largest natural gas distributor and utility, and Petroliam Nasional Berhad, or Petronas, the Malaysian state oil company, are developing the 2,500 kilometer Queensland leg of the proposed pipeline. Shares in Oil Search, the largest holder of oil and gas reserves in PNG, fell 0.3 Australian cents, or 0.2 percent, to A$1.83. They've gained 14 percent this month. Gabut is in Darwin attending the Sixth Southeast Asia, Australia Offshore Conference. quote.bloomberg.com

To: Tomas who wrote (1738)	6/26/2000 12:50:00 PM
From: Tomas	Read Replies (1) \| Respond to of 2742

Sudan gets message from United States on sanctions KHARTOUM, June 26 (Reuters) - The United States has contacted Sudan on issues including Khartoum's call for an end to U.N. sanctions, imposed following accusations Sudan was harbouring Moslem militants, a newspaper reported on Monday. The independent al-Sahafa newspaper said Foreign Minister Mustafa Osman Ismail had received a message from the United States at the weekend, but gave no details about the content. "(It) comes in the context of the exchange of messages between Sudan and the United States in recent times," the newspaper quoted Ismail as saying. The Organisation of African Unity has urged the Security Council to rescind sanctions imposed in 1996 after Egypt accused Sudan of sheltering Moslem militants who tried to assassinate President Hosni Mubarak in Addis Ababa a year earlier. Ismail said the dialogue with the United States might affect the timing of a sanctions debate in the Security Council, where the United States, as one of five permanent members, has a veto. "Another postponement is possible in view of our dialogue with the United States, looking to preserve the government's objective of lifting the sanctions and the non-use of the (U.S.) veto," Ismail said. Ismail said Sudan had no desire to confront the United States, which carried out a missile strike on a Khartoum medicine factory in 1998, saying it was making poison gas ingredients. Sudan denied the charge. Sudan's relations with the United States have been strained by U.S. accusations that Khartoum supports international terrorism and abuses human rights. But a tentative dialogue has got under way since the United States last year appointed a special envoy to Sudan, Harry Johnston, who visited Khartoum in March and June this year.