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Gold/Mining/Energy : Lundin Petroleum LUPE Sweden -- Ignore unavailable to you. Want to Upgrade?

To: Tomas who wrote (556)	6/24/2004 10:11:28 PM
From: Tomas	Respond to of 646

French Mimosa smelling sweet Upstream, June 23 ExxonMobil's Mimosa exploration well near Bordeaux in France has hit target depth and indications are that hydrocarbons have been found. The total length of the deviated well, located on the Lege permit (Gironde), reached 4037 metres. Production tests are scheduled for the second half of July, partner Lundin Petroleum said.

To: Tomas who wrote (556)	6/24/2004 10:13:59 PM
From: Tomas	Read Replies (1) \| Respond to of 646

Iran: NIOC's breather on bids Upstream, Friday June 25 By Vahe Petrossian The Exploration Directorate of the National Iranian Oil Company (NIOC) has extended the submission deadline for proposals in this year's licensing round for 16 mainly onshore blocks by nearly two months to 1 September. Almost 100 data packages costing between $5000 and $40,000 each have so far been sold to two-dozen interested companies, exploration boss Mahmoud Mohadess said. The 16 blocks, unveiled at a presentation in The Hague in January, are being offered under a modified buyback formula allowing explorers automatic access to the development phase and a long-term relationship of up to 25 years. Under previous rules, explorers were only entitled to a 30% minimum stake in any subsequent development, which would be opened up to other bidders as well. Another 35 blocks are to be tendered on the new basis in the coming years. The 16 blocks are all across the country, with several in the west seen as the most promising. These blocks Khorramabad, Kuhdasht and Kermanshah are believed to account for most of the data package sales by NIOC. Companies who inspected the data in the weeks after the presentation include Anglo-Dutch giant Shell, France's Total, Norway's Norsk Hydro and OMV of Austria.