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

To: Tomas who wrote (800)	10/30/1998 11:30:00 PM
From: Tomas	Respond to of 2742

The Falklands. Amerada Hess: "The two wells on Tranche A have established good source rocks and potential reservoir rocks" Amerada Hess to Plug and Abandon Second Falklands Well London, England...October 30, 1998 Amerada Hess has completed operations on exploration well 14/9-2, the company's second and the industry's fifth well in the North Falklands Basin. The well was located some 8 km NNE of the first well in the basin, 14/9-1 (plugged and abandoned in May 1998), and was designed to test a different play concept than drilled by previous wells. Well 14/9-2 was spudded on 13 October 1998 and completed on 28 October 1998. It reached a total depth of 2371 m and was plugged and abandoned as a dry hole with oil shows. The drilling rig Borgny Dolphin was released to Shell on 28 October to drill the second Tranche B well. The abandonment of well 14/9-2 completes the initial drilling campaign on Tranche A. The two wells on Tranche A have established good source rocks and potential reservoir rocks. Amerada Hess and partners will next assess the data gathered from their two wells and determine a forward strategy for the acreage. Notes The well was drilled on Tranche A by a consortium led by Amerada Hess. The licence group is: Amerada Hess (Falkland Islands Limited) ... 25% (operator) Fina Exploration Atlantic BV .......................25% Murphy South Atlantic Oil Company .......... 25% Teikoku Oil (Falkland Islands) Co. Ltd. ..... 20% Argos Evergreen Limited ............................. 5% For further information please contact: Laura Matthews, Corporate Affairs Tel: 0171 887 2346 Bob Petty, International Exploration Tel: 0171 887 2828 hess.com