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

To: Tomas who wrote (2687)	8/4/2001 11:14:55 PM
From: Dark_Continent	Read Replies (1) \| Respond to of 2742

Tomas, First off, I appreciate the postings, they've been very useful. Second, had a question which I thought you might be able to help me out with. If you can't, don't worry, I'll email the company. I'm trying to get a better understanding of KMOC. I understand we own 37,692 shares which will be split 40-1 on the IPO, which is going to be priced at $14 to $16. That would make the shares worth approximately roughly 23 million dollars, but we will also receive $1.3 million, which KMOC owes Lundin. It says in the information brochure that Lundin has the right to require KMOC to include 17,461 of its shares in the registration. This is what I wanted to confirm: By registering these 17,461 shares, (split 40 for 1), that means Lundin's cash position will increase by approximately 10 million dollars. Am I correct in this assumption? Seems obvious I know, but I just wanted to make sure I'm correct. Do you have any idea when KMOC will IPO? We had a nice week, but I think the stock has a lot more upside. Thanks.

To: Tomas who wrote (2687)	8/7/2001 6:08:08 PM
From: Tomas	Read Replies (1) \| Respond to of 2742

Russia interested in exploring oil in Sudan Text of report in English by Suna news agency on 6 August Khartoum, 5 August: The secretary-general of the Ministry of Energy and Mining, Engineer Hasan Muhammad Ali Al-Tawm, said that negotiations with the Russian Slavneft oil company is due to begin in current August, prior to signing an agreement for oil exploration in Block 9, central Sudan. He said in a statement to Suna [Sudanese news agency] that the Russian company expressed desire to get licence for exploring oil at Block 9 in central Sudan. Engineer Al-Tawm said that Japanese companies also expressed desire to obtain licence for oil exploration at Block 12 in northwestern Sudan, adding that the ministry is ready for negotiation with these companies in Khartoum. He said that Bambo oilfield, north of Hijlij [southern Sudan], began producing 15,000 barrels daily, adding the field's production is expected to increase to 30,000 barrels per day by the end of the current year. The average of the Sudanese oil production will exceed 220,000 barrels per day by the end of the current year 2001, he said. Meanwhile, the secretary-general affirmed the ministry's readiness for cooperation with Kenya in the field of oil supply, in the context of the COMESA [Common Market for Eastern and Southern Africa] agreement, for the interest of the two countries. He pointed out that Sudan is facing no problem as regards the marketing of petroleum and its products. He referred to an agreement concluded for supplying Ethiopia with petroleum via land transport, adding that implementation of the agreement will begin early next year. He indicated that work is progressing to construct the oil pipeline between Bashayr Port and Port-Sudan [eastern Sudan] oil refinery, adding that the construction of this pipeline would be concluded by the end of next October. Engineer Al-Tawm has affirmed the government keenness to establish development projects and to provide social, health, education, electricity power, roads and water services at the oil production areas, adding big funds from the petroleum revenues had been assigned in this regard.