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

To: Donald Lickman who wrote (140)	3/31/1998 11:06:00 PM
From: Tomas	Read Replies (1) \| Respond to of 332

Donald: Very low volume for a long time, the stock can't be under too serious accumulation? I wonder what happened to the press release. Perhaps the Libyans wanted to rephrase a sentence or two? My impression is that no one on the market really knows anything about the results, the stock is doing nothing, and it's doing it under very thin volume. RSO 3 months chart: tscn.com British Oil Company Lasmo and a consortium of South Korean companies recently announced the successful appraisal of its Elephant oil discovery in Libya, Block NC174. The results increased reserves to more than 500 million barrels of oil (they believe they may have one billion barrels). And they claimed it's the largest discovery in Libya for some 13 years. Cf. Lundins "En Naga North is the second largest oil discovery in Libya for 5-10 years". I'd love to know more about other oil discoveries made in Libya during the last decade...

To: Donald Lickman who wrote (140)	4/7/1998 8:35:00 AM
From: Tomas	Respond to of 332

En Naga North: recoverable reserves of 84 million barrels of oil. sandsp.se

To: Donald Lickman who wrote (140)	4/16/1998 9:03:00 AM
From: Tomas	Read Replies (2) \| Respond to of 332

Reservoir studies have indicated that the field is capable of producing 27000 barrels of oil per day from the Zelten and Facha formations alone. Numerous other leads on the Block have been identified and an aggressive exploration program is planned. The flow rate of the En Naga North discovery well (6517 barrels of oil per day without pumping) far exceeds the average in the area. With a string of successful wells by Lasmo in the Murzuk Basin and Lundin Oil's success in the Sirte Basin, Libya is entering a new phase of important oil discoveries which may be a new discovery trend similar in magnitude to the fields discovered during the 1960's. A two well appraisal program is scheduled for the third quarter of 1998 as well as a 1600 km seismic acquisition program. Production is expected to commence in 1999. From Lundin Oil Corporate profile, Wed 15 Apr 1998 greywolf.se