Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Tommaso who wrote (7372)	12/4/1997 9:36:00 AM
From: Robert Meany	Read Replies (2) \| Respond to of 9164

Interesting post from AOL thread: Subject: arakis update Date: Thu, Dec 4, 1997 07:04 EST From: LSmith9189 Message-id: <19971204120401.HAA13208@ladder01.news.aol.com> based on my conversations with the company on an almost daily basis i can say that the pipeline construction contract was decided on tuesday and the company is in the process of obtaining signatures from people around the world. yes, it may take a little longer than we like, but nothing fundamentally has changed., they said to expect a pr on the financing by the 23rd of dec or thereabouts. i was not given any details, but based on the tone of the conversation i can only assume it was ok. they have never said anything to me before that was not 100% correct.the sanctions are proving to be a minor irritant. a few sudanese on green cards had to be sent back, a few americans had to be reassigned. BGCOLOR="#FFFFFF">

To: Tommaso who wrote (7372)	12/4/1997 12:28:00 PM
From: Tomas	Respond to of 9164

Post says Lundin loves Arakis Thursday Dec 4 1997 The Financial Post reports in its Thursday edition that the Lundin family has moved to consolidate its resource holdings by formally launching Sands Petroleum AB's bid for 100 per-cent of International Petroleum. Reporter Peter Kennedy notes that IPC chairman Adolf Lundin says that a takeover bid for Arakis Energy may not be far behind. Mr Lundin says that his group is very interested in Arakis. He says that his group already owns about ten per-cent of the Calgary-based company which is developing a $1 billion oil project in the Sudan. While plans to take control of Arakis are not necessarily imminent, Mr Lundin says his group would like to own as much of the company as it can. Meanwhile, the Lundins are ready to combine Stockholm-based Sands Petroleum and IPC into a single entity with a market cap of about $600 million. They aim to become a sizeable player in the global oil business. The immediate goal is to boost net daily oil production of 15,400 barrels from fields in Britain and Malaysia to more than 43,500 by the end of 1999.