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

To: Tommaso who wrote (565)	5/20/1998 5:53:00 PM
From: J. Kerr	Read Replies (1) \| Respond to of 2742

Sodra public issue completed as per the following press release: "NEWS RELEASE TRANSMITTED BY CANADIAN CORPORATE NEWS FOR: LUNDIN OIL AB STOCKHOLM STOCK EXCHANGE SYMBOL: LOIL B TSE SYMBOL: LOI NASDAQ SYMBOL: LOILY MAY 20, 1998 Lundin Oil AB: Sodra Petroleum New Issue Completed, All Shares Taken Up VANCOUVER, BRITISH COLUMBIA--Lundin Oil AB is pleased to announce that the new share issue of 40,506,476 convertible shares of Sodra Petroleum AB has been completed and all shares have been taken up. Sodra has through this issue raised MSEK 303.8. Over 80 percent of the issue was taken up through rights issued to shareholders of Lundin Oil. The remaining shares have been taken up without rights and Lundin Oil has taken up 3 million shares with intention to place these in the British market in connection with a listing of Sodra on AIM (the Alternative Investment Market). An AIM listing is planned for early this summer. The convertible shares now issued can be converted to Lundin Oil shares during the period November 5 to 23, 2001. Twelve Sodra shares can be converted to 1 newly issued share in Lundin Oil. After the now completed new share issue Sodra is a 53.7 percent owned subsidiary to Lundin Oil. The total number of shares in Sodra now amounts to 81,012,976 of which 40,506,500 are common shares owned by Lundin Oil and 40,506,476 are convertible shares quoted on the New Market within the Stockholm Stock Exchange quotation system. Lundin Oil thus also currently owns 3 million convertible shares. Sodra Petroleum owns 100 percent of a licence to explore for and develop oil and gas offshore the Falkland Islands within an area known as Tranche F (see map). An exploration well is currently in progress within Tranche A operated by Amerada Hess. The well has encountered minor oil and gas shows, the economic significance of which it is far too early to be able to assess. Sodra Petroleum's first well is scheduled for the 4th Quarter of 1998. Sodra Petroleum AB's sole business is the exploration for and development of oil and gas offshore the Falkland Islands. NOTE: Location map available from the Company at the phone number listed below." Regards. Joe

To: Tommaso who wrote (565)	5/20/1998 8:18:00 PM
From: Tomas	Read Replies (1) \| Respond to of 2742

Rumours of positive results on oil exploration near Falkland Islands helped Aim-traded Desire Petroleum to gain 96« to 305«p. The rise was fuelled by a rumour that Amerada Hess has achieved "encouraging" results in a neighbouring area. The positive sentiment spread to Falkland Island Group, the retailing and port operations group, which rose 28 to 176«p. From Financial Times, Thursday May 21 (http://www.ft.com/hippocampus/q297ae.htm)

To: Tommaso who wrote (565)	5/21/1998 7:59:00 PM
From: Tomas	Read Replies (1) \| Respond to of 2742

London Market report - Falklands oil tiddlers make the biggest splash The Independent, Friday May 22, By Derek Pain Oils, ranging from the behemoths to the tiddlers, provided the stock market action. Little Greenwich Resources continued to thrive on expectations of rich strikes off the Falkland Islands. As is so often the case it was the little'uns which created the excitement. Desire Petroleum led the charge. It is deeply involved in the Falklands search. Floated at 125p last month the shares flared a further 108.5p to an astronomical 414p. On Tuesday Desire said encouraging oil and gas shows had been encountered in drilling off the islands. Since then its shares and those of associated groups have enjoyed a bonanza, reminiscent of the days of the Australian minerals boom of the 1960s. Since Tuesday Desire has surged from 164.5p. And Greenwich Resources and Westmount, each with stakes in Desire, have romped ahead. Greenwich rose 9.5p to 38p; it was 18.75p on Tuesday and Westmount has gone from 145p to 235p, up 45p yesterday. Lasmo, also in the Falklands equation, gained 6.5p to 290p.