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

To: Tomas who wrote (1836)	9/6/2000 6:41:35 AM
From: Greywolf	Read Replies (1) \| Respond to of 2742

PNG Pipeline, Following are comments by Oil Search Ltd. Managing Director Peter Botten on the company's first-half earnings and its program for drilling more oil wells. He was briefing analysts in Melbourne. On the results and drilling program: ``Barrels in the tank means dollars in the bank. In the present oil price environment we have a strong incentive'' to bring new production on stream. ``We are very keen to maximize production. The focus is to mature projects that can bring exploration success quickly into the existing facilities.'' The Kutubu field has produced 255 million barrels and has reserves of about 300 million barrels. Still, Botten said that ``may be increased. The auditing process is underway as we speak. ``Our production outlook for the second half is better than the first.'' Moran is due to come back into production on Sept. 12, he said. ``We do expect that may be able to beat that.'' ``A number of joint venture partners are unwilling commit finances to drilling. Our patience is drawing to an end on that.'' Oil Search has marked out as many as 16 prospects it would like to drill, he said. The company has about two-thirds of its seismic survey completed. ``While the oil price is high and the hedging is there we want to get as many barrels a day out of the ground as we can.'' Botten said the company is in talks with several companies about farming out interests in its assets and Oil Search had had interest from more than 60 companies. About the Pipeline On progress with its project to pipe natural gas from Papua New Guinea to Australia: ``There really isn't much now we're needing for us to bring this to a close. We're now in a situation where there is a material commercial issue. We're working hard to manage it to a commercial close in short order.'' Oil Search is waiting for Papua New Guinea to secure financing for its participation in the project and for the completion of talks with local landholders on their stake in the project, he said. ``We're unable to progress the contract negotiations with potential customers'' for the gas until Australian regulators approve the appointment of Exxon Mobil Corp. and Santos Ltd. as the company's partners, he said. Talks are unable to progress until ``they can sit around the table with us and customers can talk to us as a group.''

To: Tomas who wrote (1836)	9/11/2000 11:52:33 AM
From: Tomas	Respond to of 2742

Lundin Oil press release: Uncertain whether OPEC will be able to meet higher demand lundinoil.com

To: Tomas who wrote (1836)	9/12/2000 2:33:07 PM
From: Tomas	Read Replies (2) \| Respond to of 2742

Vietnam expects demand for gas to more than triple in the next five years Gazprom, Petrovietnam to Explore Natural Gas Deposit in Vietnam By Eduard Gismatullin Moscow, Sept. 12 (Bloomberg) -- OAO Gazprom, Russia's natural gas monopoly, and Vietnam's state-owned Petrovietnam agreed to spend $68 million to explore a natural gas deposit offshore Vietnam to help meet the country's growing demand for electricity. The companies, through a 50-50 joint venture, will drill in a deposit in the Gulf of Tonkin with estimated reserves of 1 trillion cubic meters of gas. If they find gas, the companies plan to spend more than $1 billion to start producing in 2005. Vietnam expects demand for gas to more than triple in the next five years to 5 billion cubic meters, said Nguyen Nham, president of chief executive officer of Petrovietnam. Currently all gas in the country is produced together with oil. The additional gas would be used ``for electricity generation and fertilizer production as Vietnam is the world's second rice exporter,'' Nham said. Gazprom and Petrovietnam plan to drill a total five wells over the next three years. To develop production, they'll use two rigs to drill 40 wells. The venture plans later to start a liquefied natural gas plant to sell to southern regions of China. ...