Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Razorbak who wrote (928)	2/25/1999 7:17:00 AM
From: Greywolf	Respond to of 2742

Meeting with Magnus Nordin, I have translated sign Redman's notes published on a Swedish site dib.se At an information meeting with Magnus Nordin on the 24/2 Magnus Nordin gave his views on a few matters. Adolf Lundin was supposed to be there but was at the last moment detained with other "pressing matters"... Tenke? MN talked about the price of oil... yet closer to home he accounted for Lundin Oil's current production cost's per barrel as follow's; North Sea - $5,75 Malaysia - $4,50 Libya - about $2 Malaysia - the extension of the Malaysian field is on hold ("mothballs" MN's words) at the moment and will be put forward 2 to 3 years due to the low price of oil. Nothing seem's to have been said about the sale of part of the field. Libya - will see two drills this year. The development plans seem to be on the same track as before ie drill and submit and wait for the Libyans to OK! Sudan - one drill during the second quarter. Pipeline is well on the way to completion. end, Greywolf

To: Razorbak who wrote (928)	2/25/1999 11:08:00 AM
From: Timelord	Read Replies (2) \| Respond to of 2742

Huh...What?? Is oil at $19?? $12.44!!!! Grrrr... Back to sleep... <g>

To: Razorbak who wrote (928)	2/28/1999 3:04:00 PM
From: Tomas	Respond to of 2742

The Economist, Feb 27th: Sudan - The war and the pipeline project KAJO KEJI Nice words, pity about the war IF KEEPING Sudan together means war, then we prefer separation and peace. That seems to be the message from Omar el Bashir, president of Sudan, to the southerners in his country who want to secede. After some 40 years of intermittent fighting and war-caused famines, and at least 1.5m deaths, is the end of Sudan's interminable civil war at hand? Alas, no. For a start, the rebel Sudan People's Liberation Army (SPLA) does not claim to be fighting for the secession of the south, where it draws its support, but for a secular and democratic Sudan. Second, and more important, the two sides have vastly different definitions of where the north ends and the south begins. The government puts the oilfields around Bentiu and Muglad in the north, the SPLA have them in the south. And what of the millions of southern Christians in the Muslim north? In fact, the president's "offer" on February 20th contained little new. In April 1996, the government signed a peace accord promising southern autonomy to several factions that had split from the SPLA. Last May it agreed with the SPLA itself to a referendum that could, in theory, lead to independence. But no attempt was made to hold the vote. Fighting and starvation are all that have followed. Some suspect that the government talks peace but finances and arms anti-SPLA groups in the south to create chaos. Even so, President Bashir has conceded that the war is expensive. And a recent decision to allow legal opposition parties hints at a new willingness to contemplate change. By the end of the year, a 1,500-kilometre (950-mile) underground pipeline will be completed to carry oil from the Muglad basin to Port Sudan on the Red Sea. Built by a consortium of Chinese, Malaysian, Canadian and Sudanese companies, it will pump 150,000 barrels a day, and be the sole means of getting oil out from the middle--and the south--of the country. Thus even if the north eventually lost political control of the south, it would maintain an economic grip. Some optimistics argue that the oil revenues will give the north enough economic security to tempt them to settle for an Islamic state in the north and to let the south go. But in any event the security of the pipelines will be a priority. Parts of the south already claim autonomy. The SPLA has controlled a region larger than France since 1997 and is slowly setting up an administrative structure of sorts. The National Liberation Council--elected by voters in rebel areas--presides over various commissioners in an embryonic state known to the rebels as "New Sudan". But, lacking a local economy and taxes, it depends on aid agencies to feed refugees, pay for roads, provide seeds and carry out other development work.

To: Razorbak who wrote (928)	3/3/1999 7:35:00 PM
From: Tomas	Respond to of 2742

Papua New Guinea: Top men say pipeline deal appears nearer, "Everybody is at the stage to do a deal" PostCourier, Port Moresby, March 4 A DEAL to secure the PNG to Queensland gas project is only weeks away, according to Oil Search Ltd, one of the project's key participants. A similar view was put forward by another partner, Orogen Minerals, last week when releasing its 1998 results. Oil Search chairman Trevor Kennedy said in a report to the Australian Stock Exchange yesterday that his company believed a commercial resolution to the issue of gas field integration "is possible in the short-term". And managing director Peter Botten told AAP the deal was close. Mr Kennedy said Oil Search's purchase of BP's interest in the Hides gas field provided the opportunity for the Kutubu and Hides partners to establish commercial terms to guarantee sufficient reserves for markets in Queensland. "Although parties have come close to agreement over the last few months, details of the mechanisms for reserve integration remain to be agreed," Mr Kennedy told the ASX. "Material discussions are presently being undertaken. We believe a commercial resolution to this issue is possible in the short-term, given the pressure exerted from governments and the markets, and the need for rapid resolution." Mr Botten said he was off to the United States overnight for talks with the pipeline project's two main participants, Exxon and Chevron, in a bid to finalise a deal. "Everybody is at the stage to do a deal," Mr Botten said, although he conceded he had thought a deal was close on at least two other occasions in the last couple of months. He said the problem for the project partners had been finding an appropriate way to cut up the proposed pipeline's financial "cake" while the partners were still trying to define exactly what the cake was. "We are trying to cut a financial cake which is extremely difficult to define," Mr Botten said in a reference to how Exxon and Chevron would divide up the integration of the project's gas reserves. "There is clearly a need to define markets (for the gas) but the markets are hanging back until we fix the upstream." The original target for the gas project to start production was the end of 2001 ''although, clearly that (deadline) is stressed''. American petroleum majors Chevron and Exxon will be meeting in Chevron's head office in San Ramon, California tonight (local time) to iron out gas integration mechanisms. Chevron is the operator of the Kutubu joint venture while Exxon is representing the Hides joint venture partners. Petroleum and Energy Minister Sir Rabbie Namaliu has recently warned the Government's patience was running out after delays to the gas project. Gas project officials have acknowledged "the ball is now in our courts", and said they took Sir Rabbie's recent statement as a challenge. Mr Botten also underlined the importance of the gas pipeline project to Oil Search, particularly in the current low oil price environment. He said Oil Search could cope with a $US12.00 oil price having got itself down to a ''fighting weight'' in the last six months but the company's priority was to commercialise its gas reserves in PNG. "Clearly the focus very much is to commercialise the gas," Mr Botten said. postcourier.com.pg