LASMO Announces Government Approval of Zamzama Extended Well Test.Business Editors LONDON--(BUSINESS WIRE)--April 4, 2000 LASMO plc (NYSE NYSE See: New York Stock Exchange :LSO LSO London Symphony Orchestra LSO Lesotho (ISO Country code) LSO Laser Safety Officer LSO Landing Signal Officer LSO Large Send Offload LSO Longwood Symphony Orchestra (Brookline, MA) ), the international oil and gas exploration and production company, today announced that agreement has been reached with the Government of Pakistan Government of Pakistan (Urdu: حکومتِ پاکستان), The Constitution of Pakistan provides for a Federal Parliamentary System of government, with a President as the Head of State and an indirectly-elected Prime and the Sui Southern Gas Company The Sui Southern Gas Company (SSGC) (Formerly) Sui Gas Transmission Company Limited was formed in 1954. The Company in its present shape was formed on March 30, 1989 following a series of mergers of three pioneering companies, namely Sui Gas Transmission Company Limited, Limited to supply 70 million standard cubic feet per day of gas from an extended well test on the Zamzama field in Pakistan. Production is expected to commence from two existing wells in early 2001 for an initial period of 21 months. Discussions continue with the Government of Pakistan regarding plans and commercial arrangements for a full field development. Notes to editors: Partners in the Zamzama field (Dadu Concession) BHP Petroleum Pty Ltd (Operator) 47.50% LASMO Oil Pakistan Ltd 23.75% Premier Exploration Pakistan Limited 23.75% Pakistan Government Holdings 5.00% The Government of Pakistan will exercise its option to increase its working interest to 25% during the test period. The Zamzama field is located 40 kilometres to the northeast of the LASMO operated Bhit field, development plans for which are under review and negotiation of a gas sales agreement with Sui Southern Gas Company Limited is at an advanced stage. LASMO's shares trade on the London and New York Stock Exchanges. Shares are quoted on the SEAQ SEAQ See: Stock Exchange Automated Quotation System System, and prices may be accessed on the Reuter Equities 2000 Service under the symbol LSMR LSMR Landing Ship, Medium, Rocket .L and on Quotron under the symbol LSMRU.EU. For further information, visit LASMO's web page at http:\\www.lasmo.com. |
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