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

To: Geneat who wrote (375)	11/24/1997 11:06:00 AM
From: Tomas	Read Replies (1) \| Respond to of 2742

American International Petroleum's Joint Venture Company Signs Operating Agreement with Kazakstan Government, AIPN pressrelease today: biz.yahoo.com Quote: "The Company said it will now intensify its contacts and discussions with potential industry partners with a view towards joint exploration of the License Area". Any chance IPC is involved in these discussions? Geneat: Is it possible to access info on the aol message board without being a subscriber?

To: Geneat who wrote (375)	5/28/1998 8:43:00 PM
From: Tomas	Read Replies (1) \| Respond to of 2742

Lundin Oil is still negotiating a license in the Kazakh part of the Caspian Sea Kazakhstan affirms oil sell-off plans Financial Times, May 28 By Charles Clover, Robert Corzine and Carlotta Gall in Astana, Kazakhstan Kazakhstan's prime minister, long thought to be the main obstacle to privatisation of the country's strategic oil industry, said yesterday he was in favour of oil privatisation "if done correctly". He also affirmed the government would proceed with plans to sell part of its share in two oil companies, probably later this year. Nurlan Balgimbayev said in an interview with the Financial Times: "You can write that Balgimbayev is against incorrectly done privatisations but in favour of correctly done privatisations." While serving as oil minister before being appointed prime minister last month, Mr Balgimbayev earned a fearsome reputation in the government for battling against the privatisation of oil assets such as the Shymkent refinery and the Kumkol oil field, both sold in 1996. In February he used his first press conference since becoming prime minister to declare a halt to further privatisation of the oil industry, which has attracted the interest of a broad range of foreign companies. Since then his remarks have been interpreted as meaning only a halt to further oil exploration concessions. But many local oil industry experts have continued to think that Mr Balgimbayev is behind the delays in plans to sell remaining shares in two large oil companies, Mangistaumunaigas and Aktiubemunaigas, on the Kazakh stock exchange. They would be the showpieces of the country's so-called "blue chip" programme, in which government stakes in five leading companies would be sold in order to jump-start the local share market. But Mr Balgimbayev said the government would continue with plans to sell the two companies, this year if possible. He said the size of the government stakes to be sold would depend on the revenue requirements of the government. Last year, it sold 60 per cent of Mangistaumunaigas to Indonesia-based Central Asia Petroleum, and 60 per cent of Aktiubemunaigas to the Chinese National Petroleum Corporation. This year, the government expects to raise 45bn tenge (œ350m) in privatisation revenues, some 20 per cent of the state budget. As of May 1 it had raised 11bn tenge, according to Uraz Jandosov, the first deputy prime minister. "The blue chip programme is vital for our budget," said Mr Jandosov. But yesterday he said shares in several other leading state companies could be substituted if it proved impossible to launch the blue chip programme this year. Possible substitutes include a stake in Kazakhoil, the holding company for the state-owned shares of Kazakhstan's oil industry. Mr Jandosov emphasised, however, that the government did not want to modify its privatisation schedule: "It wasn't the decision of the government to start the privatisation of these companies this year, but if there are problems with the five blue chips, then we could put up shares in other companies." http://November:website@www.ft.com/hippocampus/q2f4ae.htm