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

To: Tomas who wrote (417)	12/22/1997 12:31:00 PM
From: Timelord	Read Replies (1) \| Respond to of 2742

Tomas: Thank you for the news on the conference call, I was able to listen to the whole call, will post more later. <<But Swedish brokers warned me, I was told IRP and IRPPF stop trading after December 23rd, if I buy (and pay) now I won't receive any shares until January 12 when Lundin Oil start trading.>> You scared me with this post, but I don't believe your brokers explained or understood the mechanics correctly. A conditional listing is established on the Toronto exchange so there is no problem with the transition there, and I believe the details are still being worked out on NASDAQ. However, for everyone not to panic, there will not be a "black out period" where no trading will be allowed, certainly not for a period of weeks. It will be an orderly transition whereby trading in IRP and IRPPF will halt one day and begin as Lundin Oil the next, just like any other merger or buyout. <<And it's alreday too late for you to accept Sands' offer in North America, they claimed>> Again, they could not arbitrarily end the voting before the date announced in the circular, so I'm sure we have until the 23rd to reply. That was one of the purposes of todays conference call, to reiterate why the merger should be voted for. I called in my votes on Thursday as soon as I received the Western Union notification from Schwab, so my votes have been registered. <<Are people afraid of not being able to sell IRP if we have bad news from Libya before January 12?>> I thing the share price problem in the US stems from a lack of awareness about the company here. We small investors can throw our life savings into a stock and have no impact on the price/liquidity. We need to attract institutional investors to really unlock the value of the company, and I am heartened to learn that a road show is being organized for January. This and more reports from independent analysts will really help to increase the stock price. (Of course, confirmation of commercial oil in Libya will help a great deal also, and I read this as a high probability!) Lastly, the conference call addressed the financing issue and the $300M corporate credit facility is a done deal once Lundin Oil is approved. This is also a significant milestone for the company, and right now I am very happy with the prospects for my little investment. Alex