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

To: Tomas who wrote (2314)	4/20/2001 8:06:09 PM
From: Timelord	Respond to of 2742

Lundin, Petronas and Petrovietnam Acquire the Cai Nouc Development Area, Offshore Vietnam VANCOUVER, B.C.--(BUSINESS WIRE)--April 20, 2001--Lundin Oil AB (NASDAQ:LOILY - news), through its wholly owned subsidiary Lundin Vietnam Limited (``Lundin''), Petronas Carigali Overseas Sdn Bhd (PCOSB) and Petrovietnam E&P (PVEP), have concluded an agreement with TotalFinaElf subsidiary Fina Exploration Minh Hai B.V. (Fina) and PTTEP International Limited (PTTEP) to purchase their combined interest in the Cai Nouc Development Area offshore Vietnam (``the Area''). Under the terms of the agreement, Lundin will act as operator for the group with 33.154034% interest with PCOSB and PVEP holding the remaining 36.845966% and 30% respectively, subject to government approval. The Area contains a unitised portion of the Cai Nuoc/Kekwa field, which is currently producing approximately 18,000 barrels of oil per day. The reserves within the Area will be developed as part of Phase 2 of the PM3CAA development project scheduled to come on stream late in the 3rd quarter of 2003 at a total rate of 250 million cubic feet of gas and 40,000 barrels of oil per day. The inclusion of the Area in the overall project means that production rates will probably increase once a market has been secured for the gas reserves within the Area. Lundin Oil President Ian Lundin commented: ``This asset will add significant proven oil and gas reserves to our existing Southeast Asia portfolio. The fact that the same partners have an interest on both sides of the border between Malaysia and Vietnam, means that the Kekwa/Cai Nuoc Field will be developed in the most cost efficient and effective manner.'' 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''). biz.yahoo.com Link to map: lundinoil.com Alex

To: Tomas who wrote (2314)	4/25/2001 8:35:08 PM
From: Tomas	Read Replies (1) \| Respond to of 2742

Lundin and partners buy shares of Cai Nouc area off Viet Nam Oil & Gas Journal HOUSTON, Apr. 23 -- Lundin Oil AB and two partners have acquired the interests of Fina Exploration Minh Hai BV and PTTEP International Ltd. in the Cai Nouc development area off Viet Nam. The deal is subject to governmental approval. Terms of the transaction were not disclosed. Lundin will operate the area with 33.154034% interest; Malaysian state company Petronas Carigali Overseas Sdn. Bhd. owns 36.845966%; and Vietnamese state company Petrovietnam E&P, 30%. The area contains a unitized portion of Cai Nuoc/Kekwa field, which is producing 18,000 b/d of oil. A second phase of development of the field will come on stream in the third quarter of 2003, bringing production to 250 MMcfd of gas and 40,000 b/d of oil. Lundin Oil Pres. Ian Lundin said, "This asset will add significant proven oil and gas reserves to our existing Southeast Asia portfolio. The fact that the same partners have an interest on both sides of the border between Malaysia and Viet Nam means that Kekwa/Cai Nuoc field will be developed in the most cost-efficient and effective manner." Fina Exploration Minh Hai is a subsidiary of French company TotalFinaElf SA. PTTEP International is an affiliate of the Petroleum Authority of Thailand.