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

To: Timelord who wrote (2073)	2/26/2001 8:34:15 AM
From: Greywolf	Respond to of 2742

Libya: Process Facilities and Pipeline Construction Contracts Awarded, Lundin Oil AB is pleased to announce the achievement of a crucial milestone in the development of its En Naga North and West Field. International Petroleum Libya Limited (IPLL), a wholly owned subsidiary of Lundin Oil AB and operator of the En Naga Development in Area NC177, has awarded two engineering, procurement, installation and construction (EPIC) contracts for the construction of processing facilities and a 94.5 km pipeline. The pipeline will connect the En Naga Development with the existing pipeline network which will take the produced oil to export facilities on the Mediterranean coast. Ian H Lundin, President of Lundin Oil AB said ?x201C;The award of these contracts is a significant step towards bringing the En Naga Field into production. We can now expect with a reasonable degree of certainty the achievement of first oil before year end and we look forward to achieving our first production in Libya together with our partners, The National Oil Corporation?x201D;. The En Naga North and West Field was discovered by IPLL in 1998 and contains certified proven and probable reserves of over 100 million barrels of oil. 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 "LIOLY") and the Stockholm Stock Exchange (symbol "LOILB").

To: Timelord who wrote (2073)	2/26/2001 6:16:48 PM
From: hubbabuba2	Read Replies (1) \| Respond to of 2742

You're referring to Jim Harpel in Barron's circa '93 (?). The way Jim and other soldiers for the cause have been burned (read: quick fried) by subsequent execution of the company is precisely why it won't get that high of profile anytime soon. Who would risk it? [Frankly (really)I was in Barron's recently, and if I can get quoted for much I sure wouldn't put my name by this company!!!!] It will take some positive exectution and performance for a while first before anyone says anything in high visibility land. Look what Jim talked about: Malaysia with a map, etc.. 7 years later they unforgivably try to boot it (for God knows what - racing money?), 8+ years later we're waiting on full developement. God knows they hit (thank God they did we'd really be toast) but who can wait decades for valuation purposes? Anyone ever hear why they tried to boot Malaysia? Couldn't swing goood financing I expect - which they should have thought of as they took shareholders through the wilderness. I'd recommended a 4 for 1 reverse stock split as a means to try and bring some credibility back to the company. A lot of brokerage firms can't/won't even look at sub-$3 stocks. Justfiably so. This has fallen on deaf ears apparently.