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

To: Tomas who wrote (1936)	11/29/2000 12:11:05 PM
From: Greywolf	Respond to of 2742

Commence Drilling in Albania Occidental, Lundin Oil and Forest Oil Commence Drilling in Albania, VANCOUVER, B.C.--(BUSINESS WIRE)--Nov. 29, 2000--Lundin Albania Limited, A wholly owned subsidiary of Lundin Oil AB (OTCBB:LOILY - news), is pleased to announce that drilling operations have commenced in Albania. The well (block 2) is located in the barat region, approximately 112 km southeast of Tirana. The well marks lundin oil's first exploration drilling venture in Albania. Ian H. Lundin, chief executive officer of Lundin Oil, says in a comment: ``we are happy to be in albania for a number of reasons, but the main ones are favourable fiscal terms, excellent access to european markets and above all, The country has important oil reserves.'' The well, named shpiragu-1, will be drilled to a planned total depth of 4,700 metres. The geological target of the shpiragu-1well is similar in nature to the large oil fields discovered in recent years by Enterprise Oil in southern Italy. Albania presently has recoverable oil reserves of approximately 2 billion barrels. Foreign oil companies such as Occidental, Premier Oil, OMV, Coparex and Ina Naftaplin Have been active in the country for a number of years and the government has a clear policy to attract foreign investment in its natural resource sector. Occidental of Albania (onshore-2) LTD. is the operator of block 2 with a 50% interest, Lundin Albania Limited and Forest Oil International hold a 20% and 30% interest respectively. 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'').

To: Tomas who wrote (1936)	12/4/2000 10:09:01 PM
From: Tomas	Read Replies (1) \| Respond to of 2742

Libya: Energy analysts Woodmac forecast greatly increased activity in the Libyan upstream industry. Recent licensing of no less than 96 blocks attracts worldwide interest from both oil majors and independents….14 blocks already reserved by companies as yet unnamed….US majors showing interest include Amerada Hess, Chevron, Conoco and ExxonMobil. Conoco report their Libyan assets still in good shape and awaiting further development. LASMO's Elephant field poised to start production. Recent report from consultants Robertson names Libya as the oil industry's No. 1 country for new exploration, development and production. Political developments along with world-class prospectivity propel Libya from 20 th position in 1988 to top place. Source: oilgasnafrica.co.uk