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Gold/Mining/Energy : Red Sea Oil Corporation (RSO) -- Ignore unavailable to you. Want to Upgrade?

To: Sandy who wrote (134)	3/19/1998 3:27:00 PM
From: Tomas	Respond to of 332

Sandy: I attended the Extraordinary General Meeting of Sands the day before yesterday. RSO/Sands are still waiting for the state owned Libya Oil Company to approve the press release, it may take a couple of days. Friday is holiday, so probably early next week. In December they announced drilling results without waiting for government approval, and the Libyans were not too happy... RSO won't make that mistake again. Adolf Lundin said: "This is the second biggest oil discovery in Libya for more than 5 years (5-10 years)". As far as I know the Romanian state company Petrom made a huge discovery back in 1991, the Murzuk field. But after Petrom had difficulty financing the development program its share was purchased by Spain's Repsol. This giant field has estimated recoverable reserves of 2 billion barrels of crude today. In October 1997 a consortium led by South Korean companies announced that it had discovered 1 billion barrels in crude reserves at the NC-174 Block. I'd appreciate any info on oil discoveries in Libya between 1991 and 1997.