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

To: Greywolf who wrote (1927)	11/27/2000 11:43:42 PM
From: Razorbak	Respond to of 2742

"Lundin Oil AB: Libya: D1-NC177 Well Results" Monday November 27, 10:02 am Eastern Time Press Release VANCOUVER, B.C.--(BUSINESS WIRE)--Nov. 27, 2000--Lundin Oil AB (NASDAQ:LOILY - news; the ``Company'') announces that its wholly owned subsidiary, International Petroleum Libya Limited, which operates Area NC-177, onshore Libya in joint venture with the National Oil Corporation, has plugged and abandoned the D1-NC177 well drilled on Area NC177, onshore Libya, at a depth of 9,903 ft rkb (3018 metres). The well penetrated all of the main targets which were the Gir, Zelten and Beda Carbonates as well as the Sirte and Basal sandstones, but none proved to have commercial quantities of hydrocarbons. The rig is now mobilising to drill the next exploration well on Area NC177 referred to as E1-NC177, 28.8 km north of the D1-NC177 location and 34.2 km south of the En Naga field (see attached location map). This well will be drilled to a planned total depth of 7976 ft rkb (2431 metres). Lundin Oil AB is a Swedish independent oil company with exploration and production activities in eight different countries worldwide. The Company is listed on NASDAQ (symbol ``LOILY'') and the Stockholm Stock Exchange (symbol ``LOILB''). -------------------------------------------------------------------------------- Contact: Lundin Oil AB Magnus Nordin Tel: 011/46 8 440 54 50 or Lundin Oil AB Sophia Shane Tel: 604/689-7842 biz.yahoo.com