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Swedish oil and gas company Lundin Petroleum AB reports Q1 operating profit of SEK547.48m
Nordic Business Report, May 12, 2008
NORDIC BUSINESS REPORT-12 May 2008-Swedish oil and gas company Lundin Petroleum AB reports Q1 operating profit of SEK547.48m(C)1994-2008 M2 COMMUNICATIONS LTD http://www.m2.com
Swedish oil and gas company Lundin Petroleum AB (OMX Stockholm: LUPE) issued its first quarter report on Monday (12 May), posting an operating profit of SEK547.48m (Q1 2007: SEK426.22m) on net sales of SEK1,198.97m (Q1 2007: SEK1,319.57m).
Earnings per share amounted to SEK1.25, up from SEK0.67 in the first quarter last year.
The first quarter production averaged 27,100 barrels of oil equivalent per day, which was 8% below forecast.
Lundin Petroleum, headquartered in Stockholm, Sweden, is an independent oil and gas exploration and production company with assets in Europe, Africa, Russia and the Far East. The company's existing proven and probable reserves amount to over 184m barrels of oil equivalent.
One British pound (GBP) is worth approximately 11.73 Swedish kronor (SEK).
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