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

To: Greywolf who wrote (627)	10/10/2007 4:02:16 PM
From: harryh	Read Replies (1) \| Respond to of 646

Dear Greywolf, Thanks for you invalueable information about Lupe during almost 7 years I followed you. I want to share some information I got from ECOS which operates and following the oil related topics in Sudan. I would be great to get your comments. You are probably familiar with Egbert already. My question to him first then his answer at the end. Dear Egbert, I follow your reporting on ECOS and I think you doing a great job to report the activities and the development of the oil industry in Sudan. I also know that you have following the specific dispute of Block 5B, where you article was publish and quoted in several medias 13th of July this year. Do you have an status of the further development and I specifically refer to follwing: "The NCP will renegotiate the composition of the consortium in Block 5B, now Petronas 39%, Lundin 24.5%, ONGC Videsh 23.5%, and Sudapet 13%. Contrary to White Nile, the challenger to this consortium, Ascom S.A.,will obtain satisfaction, as the NPC has the intention to open the consortium for this Moldovan company. Nilepet will obtain a share of 10%, fully-carried. The future composition is under negotiation, but it is believed that Sudapet's share will be reduced to 10% tocome on equal footing with Nilepet. Petronas, the operator of the Block, has never taken action against Ascom's competing claim for fear of alienating the GoSS. The members of the consortium are expected to be accommodating in return for access to the most prospective parts of the Block, in the Sudd area East of the White Nile, where Ascom has been heavily investing over the past two years" Is the dispute ongoing or have a new negotiation been finalized in Block 5B? As far as I know this needs to be solved before Petronas can/will commence exploration drilling in the prospect, or has the drilling already been started? Looking forward to your answer Egbert and keep up the good work on reporting for ECOS. Egberts answer Dear Harry, I tried to find out 3 weeks ago when in Juba, but neither the oil minister, nor any other SPLM member of the National Petroleum Committee had anything definite to say. I was told, however, that Petronas doesn't want ASCOM in the consortium, proposing the company a role a major contractor instead, and this is not to everybody's liking. Petronas is not yet present at the right bank. The Ministry of Finance of the GONU has told the company to do a serious social and environmental assessment first, and this is currently being negotiated. Nobody is in a hurry right now anyway, with the exception of the NCP I guess. Best regards, Egbert