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

To: Greywolf who wrote (1805)	8/25/2000 4:42:31 PM
From: Greywolf	Respond to of 2742

Analyst meeting in Stockholm 28/8, The company is having an analyst meeting in Stockholm on Monday the 28th at 12.00 CET. A summary of the salient points will be posted during the day.

To: Greywolf who wrote (1805)	8/26/2000 12:22:56 PM
From: Tommaso	Read Replies (1) \| Respond to of 2742

I am trying to get some fix on what the income per share for LOILY is. Since there are about 103 million shares, does this mean that net income per share for the six months is about 14 cents? If so, and if we double this, then that makes the P/E around 10? That's respectable for a flourishing energy company. Tomas--I imagine you will read this message. I own enough Lundin Oil to make a difference to me and am thinking about doubling my holding. I have seen quite odd things happen with Lundin affiliates. Do you think that Lundin shareholders are likely to be treated fairly by management? I know that's a loaded question.

To: Greywolf who wrote (1805)	8/26/2000 4:57:50 PM
From: Tommaso	Read Replies (1) \| Respond to of 2742

Further down the attachment to the announcement of the earnings, which is in pdf format, I do see that EPS are stated as 1.5 Swedish Krona or about 16 cents. Also one learns that 4,000 bpd of some 14,200 are sold hedged at $18 something a barrel. The hedge comes off the end of the year, looks like. So profits unhedged would have been maybe 2-3 cents more--just a guess. Income for the entire year could be easily 35 cents a share, bringing the P/E down to maybe 8-9 with more improvement if oil prices stay up. Hard to judge if this is as good a bet as Talisman, with its 9.8 P/E and more conventional corporate structure. Or even Quicksilver (KWK) with a 5.8 P/E and lots of NG. Thoughts, anyone?