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

To: Timelord who wrote (506)	2/24/1998 10:24:00 AM
From: Tomas	Respond to of 2742

Sands Petroleum AB: Drill Rig Mobilized to Falkland Islands VANCOUVER, BRITISH COLUMBIA-(BUSINESS WIRE)-Feb. 24, 1998 Sands Petroleum AB ("Sands") is pleased to announce that the "Borgny Dolphin" semi-submersible drilling rig has been mobilized from the North Sea and is expected to arrive in the Falkland Islands in early May. Several large, well-defined prospects exist on the Company's 6 blocks (Tranche F) offshore the Falkland Islands. The drilling rig will be shared with 3 other licence holders in the area. Sands' first of two exploration wells is expected to be spudded in October, 1998. The other 3 licence holders will drill their first wells ahead of Sands starting with Amerada Hess as soon as the rig arrives. Tranche F comprises an area of 1,600 square kilometres and is situated in the North Falkland Basin. Geologically, the North Falkland Basin is similar to the North Sea and is one of the few large sedimentary basins that has not yet been explored for oil. To date, the Company has acquired 2,625 line kilometres of existing seismic data and 1,600 line kilometres of new seismic data. Several potential reservoir sequences have been identified and include syn-rift sandstones of mainly Jurassic and Lower Cretaceous age; post-rift sandstones and reefal carbonates of Valanginian to Albian age; and others. Various source rock intervals are thought to be present in the Jurassic-Cretaceous sequence and modeling has shown these intervals to be mature for oil and gas. Numerous structures are present in the area including fault-bounded three-way dip-closed structures at the Jurassic and Lower Cretaceous levels. Sands holds a 100 percent interest in Tranche F. biz.yahoo.com

To: Timelord who wrote (506)	3/14/1998 8:03:00 AM
From: Tomas	Respond to of 2742

Lundin Oil seeks to start explorations in Iraq From todays "Daily Industrial" (a big Swedish newspaper) Adolf Lundin's listed Swedish oil exploration company Lundin Oil is negotiating with "representatives of Iraqi oil interests" to take part in one or more exploration projects in Iraq, as soon as the United Nations trade embargo of Iraq is removed. Mr. Lundin reportedly met with Iraqi officials in Amman, Jordan on Thursday. Lundin is negotiating to undertake explorations of new areas, and to exploit proven discoveries. "Lundin has been discussing this with various parties and middlemen from Iraq for several years. Now, it is important for us to be in the right place when the sanctions are removed, but there is no guarantee that we will succeed," says Magnus Nordin, president of Sands Petroleum, which will change its name to Lundin Oil in one month. Of course, Lundin isn't alone in preparing for the day when oil can once again be pumped in large quanities from Iraq. Before the war in the Gulf, Iraq produced nearly half as much oil as Saudi Arabia.

To: Timelord who wrote (506)	4/2/1998 5:53:00 PM
From: Tomas	Read Replies (1) \| Respond to of 2742

Sands Petroleum: Name Change to Lundin Oil AB Effective as of April 2 VANCOUVER, British Columbia--(BUSINESS WIRE)--April 2, 1998-- Sands Petroleum AB is pleased to announce that regulatory and shareholder approval has been received effective April 2, 1998 regarding the Company's name change to Lundin Oil AB. The shares of the Company will commence trading under its new name and symbol effective April 2, 1998 on NASDAQ, April 3, 1998 on The Toronto Stock Exchange and April 7, 1998 on the Stockholm Stock Exchange. The trading symbols will be LOILY on NASDAQ, LOIL B on the Stockholm Stock Exchange and LOI on The Toronto Stock Exchange. Lundin Oil has a well-balanced portfolio of production, development, appraisal and exploration acreage worldwide. Following the recent merger with International Petroleum Corporation, the Company is now very well positioned to become one of the more important independent oil companies operating globally.