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

To: Tomas who wrote (2534)	6/19/2001 1:07:53 PM
From: Tomas	Read Replies (1) \| Respond to of 2742

From Financial Post, June 19: Jim Buckee, president and chief executive of Canada's largest oil and gas producer, who said he's just come back from a trip to Sudan's capital, Khartoum, to meet with government representatives, said that Talisman is close to announcing a modest international acquisition in a new core area that is less politically controversial, prompting suggestions that the company may be getting ready to swap Sudan for something else. "We have been evaluating other opportunities for new country entry and bolstering our position in various places," Mr. Buckee said. "We have such an opportunity and had things progressed a little differently, I would have announced it today." Brian Prokop, analyst at Peters & Co., said Mr. Buckee's change of heart on Sudan shows "a distinct difference than we have heard a couple of months ago." "One could argue this could be the beginning of a swap mentality... 'We are getting into another country, but we are getting out of Sudan'," he said. "Certainly, the path toward divestitures seems way closer, or further along." Steve Calderwood, analyst at Salman Partners Inc., said Talisman has also considered dividending out to shareholders its Sudan interests as a separate company that would trade in Europe. Mr. Calderwood said advocates of peace in Sudan who claim oil development is fuelling the war and displacing people will have a tougher time getting attention for their cause if Talisman gets out because the oil operations will become less transparent and likely less relevant to the West. "If there isn't a North American or Western company as a target for those interest gorups, it's going to be tougher for them to make a case for oil development in Sudan to stop."