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Gold/Mining/Energy : ARAKIS: HIGH RISK OIL PLAY (AKSEF) -- Ignore unavailable to you. Want to Upgrade?

To: Tomas who wrote (7341)	11/24/1997 5:48:00 AM
From: Edward M. Zettlemoyer	Read Replies (1) \| Respond to of 9164

Tomas: Looks like the Consortium will try to use all excess capasity right from the begining. The following info is from the Arakis 1997 nine month report "The pipeline project remains on schedule for construction startup late in the first quarter of 1998. Pipeline completion and first commercial production is targeted for the fourth quarter of 1999. With a rapidly expanding drilling program, the Consortium is aggressively developing its production capability to maximize use of all available pipeline capacity". Also this, "In total over the coming dry season, which is expected to extend to May, 1998, the Consortium plans on drilling up to 26 wells, most of which will test new exploratory prospects or further delineate earlier discoveries. Up to six of these wells will be drilled in the Kaikang Exploration Area". Thank you very much for your excellent input, I think I am starting to understand why Mr.Lundin remains undaunted in the more vulnerable 5A concession. Ed