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

To: Tomas who wrote (2507)	6/12/2001 10:46:40 AM
From: Henrik	Read Replies (1) \| Respond to of 2742

Albania: Lundin Oil Withdraws From Block 2 Business Editors VANCOUVER, B.C.--(BUSINESS WIRE)--June 12, 2001--Lundin Oil AB's (Nasdaq:LOILY) wholly owned subsidiary Lundin Albania Limited has submitted its notice of withdrawal from Block 2 onshore Albania. A deep well, known as Shpiragu-1 was spudded on the Block in November 2000 and is still drilling ahead at approximately 4,500 meters. The decision to withdraw was based on the results of an intermediate logging run at 4,050 meters. Lundin Oil considers that the well will not meet Lundin Oil's economic threshold at current depth or deeper. Lundin Albania Limited maintains a 20% interest in one other block in Albania. 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"). ============================================================ >>Timor Sea threat was unexpected, says Oil Search chief and 'Gas project could underpin economy for next 30 years'<< This threat was suggested in post 2403 on May 23: From: Henrik Wednesday, May 23, 2001 7:18 AM Australia's Queensland state eyes Timor Sea gas 17:42, Wednesday, 23 May 2001 --------------------------------------------------------- Queensland Government is playing East Timor against PNG gas. On the news Queensland Treasurer Terry Mackenroth was non-committal on the PNG pipeline. ------------------------------------------------------------ MELBOURNE, May 23 (Reuters) - Queensland state Premier Peter Beattie said on Wednesday he was meeting with Timor Sea petroleum field developers on Thursday over the possible supply of gas from the offshore fields into the state.