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

To: Ditchdigger who wrote (385)	1/15/1998 10:41:00 PM
From: Timelord	Read Replies (1) \| Respond to of 2742

DD: If you have a little change, I think Red Sea (RDSEF, pinks) just sent a little signal on the drill stem test results - finished up on higher volume, big 7K purchase at the close (Someone on the RSO thread indicated that some insiders trade through ODLUM, but I'm just repeating something I read). Test results from the well due next week. Whisper from Tomas is it's at least commercial. The unexpected Zelten level (now should be close to completely tested) could be prolific. Just a thought. quote.canada-stockwatch.com Alex

To: Ditchdigger who wrote (385)	1/19/1998 11:32:00 AM
From: Timelord	Read Replies (2) \| Respond to of 2742

Good morning my frozen friend <g>! It's Oil! sandsp.se Sands Petroleum AB reports that three of five drillstem tests on well B1-NC177, on Block NC177 onshore Libya, have been completed and combined flowrates of 5,789 BOPD have been achieved. The first test was carried out in the Beda level, and flowed 725 BOPD through a 1 inch choke. The second test was done in the lower Zelten level, and flowed 303 BOPD through a 1/2 inch choke, and the best test has been from the upper Zelten level (Zelten "A"), which flowed 4,761 BOPD with a density of 48ø API through a 1 1/4 inch choke. The testing program will now continue and two additional tests will be carried out in the Facha level of the well, before the well will be suspended. The Facha level is the principal target. The results so far are summarized in the following table. Test Choke (64th) Pressure PSI Oil BOPD Gas MMSCFD 1 64 201 725 3.4 2 32 220 303 0.5 3 80 487 4,761 6.5* * 0% hydrogen sulphide and 1% carbon dioxide Different options for appraisal drilling and early production systems are now being reviewed. Sands Petroleum AB has a 40% interest in Block NC177. Red Sea Oil Corporation holds the additional 60% and is operator. Sands Petroleum AB directly, and indirectly through its subsidiary International Petroleum Corporation, IPC, owns approximately 61% of Red Sea Oil. Sands Petroleum AB is quoted on the Stockholm Stock Exchange O-list, and, as of today, on the Toronto Stock Exchange under the symbol "SPB", and expects to be listed on NASDAQ, under the symbol "SANPY", shortly.