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

To: Greywolf who wrote (1878)	10/19/2000 12:39:53 PM
From: isopatch	Read Replies (3) \| Respond to of 2742

Roger that. Another positive as we get further into 4th qtr Thx/eom

To: Greywolf who wrote (1878)	10/23/2000 7:23:53 AM
From: Greywolf	Read Replies (1) \| Respond to of 2742

Prices of oil show sterling increase Brian Gorman SOARING oil prices, together with a weaker pound, means North Sea producers are realising 64 per cent more for a barrel of oil compared with a year ago, according to the Royal Bank of Scotland. Stephen Boyle, the bank’s head of Business Economics, said: "Sterling’s depreciation against the US dollar is an increasingly important factor in rising oil prices in the UK and accounts for a significant proportion of the rise in the sterling price of oil." Oil prices averaged $31.60 a barrel in August, according to the bank’s monthly Oil and Gas index. This is 58 per cent higher than the August 1999 figure of $19.93. Output plummeted 13.6 per cent due to declines in production from certain large fields. Daily average oil output for August was 2.28 million barrels, compared with 2.65 million a year earlier. Some producers had scheduled maintenance in August, just as prices reached their highest in ten years. BP’s Foinaven field, west of Shetlands, produced just 66,000 barrels a day in August, compared with an average of 86,000 in the previous 11 months. Oil revenue averaged £48.4 million a day, up 49 per cent. The current sterling price of oil, around £21.80, is 64 per cent higher than October 1999, although the dollar price is 43 per cent higher. The Scotsman Only two more month´s of hedging to go..