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

To: Tomas who wrote (2729)	9/8/2001 10:11:42 AM
From: Tomas	Read Replies (2) \| Respond to of 2742

Lundin family starts new company Dagens Industri (Sweden), September 6 Lundin Petroleum, the Swedish oil company, is to be listed on the Swedish stock exchange Nya Marknaden today and the Lundin family hopes to repeat the success of the old Lundin Oil. Lundin Oil was recently sold, generating more than SKr1bn for the Lundin company. Ian Lundin, managing director of Lundin Petroleum, said that this is a favourable time to start a new prospecting company as large companies acquire smaller companies to gain access to reserves. The old Lundin Oil, in which the Lundin family held around 30 per cent, was acquired by Talisman of Canada. The family expects Lundin Petroleum to grow to match the size of Lundin Oil and is being led by the same management and board of directors. The company's main asset is activities in Sudan, which are described as risky due to the unstable domestic situation. Lundin Petroleum is also planning to explore for oil in Iran.