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In reply to: drarthur on Thursday 25/01/07 01:09pm

Attn Spovend (or anyone else that may know the answer)


Would the PSA actually state when exploration is to commence? I know it specifies a timeframe (3 yrs), but what about a start date?


The reason i ask is that if Adde Muse and the government are saying 2-3 months, and the start date is something that is normally written into PSA's, then that would provide an extra layer of certainty regarding the timing of upcoming events.


If they "hope" or "expect" things to commence in 2-3 this is vastly different.



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In reply to: Livas1 on Thursday 25/01/07 12:44pm

Livas1, I'm assuming the $80m includes the $50m from canmex.


Canmex cap raising will probably be significantly Lukas, and then his firends.....this is a no brainer.


Range cap raising, I dare say Sir SJ will play his part here with the help of the hyphen, I also dare say that the recipients of the raising have already got their cheque books primed....again a no brainer.


I strongly think that the wheels are well and truly in motion for the cap raisings and will all happen sooner than we think



At the EGM or AGM landau indicated that shareholders will get a chance to participate in the cap raising......I certainly hope so.

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Hi folks,


Not sure if this has been posted. Just on the subject of raising capital, below reports Lundin budgeting a "cap ex" for $520m US. Now Lundin can swing 50m over to canmex and 30mil in an envelop to RRS.





Lundin Petroleum AB announces USD520m exploration and development
budget for 2007
Nordic Business Report
January 11, 2007
NORDIC BUSINESS REPORT-11 January 2007-Lundin Petroleum AB announces USD520m exploration and development budget for 2007 ÃÆâ€â„¢ÃƒÆ’ƒÂ¢Ãƒ¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚©1998-2007 M2 COMMUNICATIONS LTD
Swedish independent oil and gas company Lundin Petroleum AB announced on
Wednesday (11 January) the details of its USD520m exploration and development
capital expenditure budget for 2007.
The development budget is USD290m with a major focus on projects in the
United Kingdom, Norway, Russia and France.
In addition there will be a major investment in exploration drilling with a
budget of USD230m. The budget includes the drilling of 19 exploration wells
targeting 1.4 billion barrels of unrisked oil equivalent reserve potential.
This represents eight times the existing proven and probable reserves of
Lundin Petroleum. The major areas of focus for exploration drilling will be the
United Kingdom, Norway, Russia, Sudan and Indonesia.
The company said that the 2007 development and exploration programme will be
funded from internally generated funds and bank facilities.
Lundin Petroleum also announced an increase in 2007 annualised daily
production to over 41,000 barrels of oil equivalent per day (boepd), a 40%
increase as compared to 2006 production.
Lundin Petroleum is headquartered in Stockholm, Sweden. The company has
assets in Albania, Congo Brazzaville, Ethiopia, France, Indonesia, Ireland, the
Netherlands, Nigeria, Norway, Russia, Sudan, Tunisia, the United Kingdom,
Venezuela and Vietnam. Lundin Petroleum is listed on the Nordic Exchange in
One British pound (ÃÆâ€â„¢ÃƒÆ’ƒÂ¢Ãƒ¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚£) is worth approximately 1.97 US dollars (USD).
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In reply to: drarthur on Thursday 25/01/07 01:00pm

Well the pommies may get sunstroke as well Doc


But interesting James Passin looks to be in the shots as well, seems very committed doesn't it http://www.sharescene.com/html/emoticons/rolleyes.gif

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In reply to: drarthur on Thursday 25/01/07 12:22pm

Drarther, I am pretty sure at the EGM, Landau stated that current shareholders definately wont have the chance to participate in aim cap raising, perhaps Hadja, or Spovend could confirm, as I to, am only going off memory, but I do not expect shareholders to be offered rights, Cheers.

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In reply to: jamit01 on Thursday 25/01/07 01:24pm

I was there at the meeting and I am pretty sure he said that also, didn't they also they were hoping to AIM list in February- March? I really hope they stick to that http://www.sharescene.com/html/emoticons/unsure.gif

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