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

To: balisurf who wrote (402)	12/6/1997 11:40:00 PM
From: Tomas	Read Replies (1) \| Respond to of 2742

balisurf: From the reservoir mapping carried out to date, a portion of the gas reserves accredited to Block PM-3 lie in Block 46 in Vietnamese water. These gas reserves reside in a single area only, namely East Bunga Kekwa. Cross border migration may account for around 8% of the total gas production from Block PM-3. Reservoir simulations indicate that oil reserves in Bunga Kekwa lie solely in Block PM-3ÿ (oil + gas reserves in Bunga Raya, Orkid and Pakma structures lie also solely in Block PM-3).

To: balisurf who wrote (402)	2/8/1998 3:15:00 PM
From: Tomas	Read Replies (1) \| Respond to of 2742

balisurf: Any comments on this quote from EIA's recent Vietnam Analysis, February 1998: <<In April 1997, PetroVietnam announced the discovery of a new oil field, called Bunga Kekwa, located in block PM3 off the southern coast of Vietnam between Vietnam and Malaysia. The field is being developed jointly by PetroVietnam holding a 12.5% interest, Malaysia's Petronas 46%, Canada's International Petroleum Development 26%, and Sweden's Sands Petroleum 15.5%. Initial production levels were estimated at 25,000 bbl/d; however, the field currently is producing only 16,000 bbl/d. Maximum production is projected to reach 40,000 bbl/d, with oil reserves estimated at over 100 million barrels and 48 Bcf of gas.>> I believe initial production levels were estimated at 18000 bbl/d, not 25,000. Isn't the current production level 18000 bopd?!? And what about the maximum production (40,000 bbl/d) and oil reserves (over 100 million barrels), they are referring only to Bunga Kekwa, not the entire PM3 block! Sounds very good to me. I'm afraid they have mixed up the Vietnamese Bunga Kekwa discovery in April 1997, and the Bunga Kekwa (PM3) development underway in Malaysia. eia.doe.gov Tomas

To: balisurf who wrote (402)	4/27/2000 6:38:00 AM
From: Tomas	Respond to of 2742

Lundin Oil Commences Sale Process of Minority Interest in Block PM-3 CAA Offshore Malaysia/Vietnam Lundin Oil, through its subsidiary Lundin Malaysia Ltd, has commenced the process to divest of a minority interest in Block PM-3 CAA offshore Malaysia/Vietnam. A select group of oil companies viewed as potential Strategic Partners will be invited to bid for a minority interest on a competitive basis. The process will be managed by Resource Investment Strategy Consultants, RISC, of Perth, Western Australia. The sales process is estimated to be ongoing for approximately six months. Lundin Oil President Ian Lundin comments "We believe that by bringing in a strong partner whose objectives are similar to ours, we significantly reduce any financing risk associated with the project while maintaining our strategic presence in this important growth area". Lundin Oil AB has a 41.44 percent working interest (held through Lundin Malaysia Limited - 26.44 percent and Lundin Malaysia AB - 15.00 percent) and is the Operator of Block PM-3 CAA. The remaining interest is held by Petronas Carigali Sdn Bhd with 46.06 percent and PetroVietnam Exploration and Production with 12.5 percent. Background Note RISC: RISC has been selected by Lundin to manage the divestment of part of their PM3 interest RISC provides advice to the oil and gas industry on the acquisition, development, management and sale of assets. Since 1994 the company has provided technical and commercial advice to over 100 clients world-wide, but specialises in the Asia-Pacific region. Background PM-3 CAA Earlier this year Lundin Malaysia Ltd and the parties to the PM-3 CAA executed a Gas Sales Agreement for the sale of gas for 20 years to Petronas and PetroVietnam: at the same time Petronas and PetroVietnam approved the Field Development Plan for the development of Phase 2 and finalized the Unitisation Agreement. The implementation program is on schedule to meet first gas by the 3rd quarter of 2003. For further information, please contact: Ian H. Lundin, President Tel: +41 22 319 6600 Magnus Nordin Tel: +46 8 440 54 50 cgi.algonet.se lundinoil.com