SPM Spg Media

RNS Number:0540I
Sodra Petroleum AB
6 August 2001


                              SODRA PETROLEUM AB

Sodra Petroleum AB announces that its parent company, Lundin Oil AB ("Lundin
Oil") has today issued the following announcement on 6 August 2001.


                      TALISMAN OFFER INFORMATION UPDATE

Talisman Energy AB ("Talisman AB"), a wholly-owned Swedish subsidiary of
Talisman Energy Inc. ("Talisman Energy"), has commenced a public offer (the
"Offer") for the purchase of the Class A and Class B shares of Lundin Oil AB
(publ) ("Lundin Oil"), the Global Depositary Shares representing Class B
shares of Lundin Oil (the "Lundin Oil GDSs") and certain warrants issued by
Lundin Oil. Pursuant to the Offer, Talisman will pay a cash amount of Swedish
Krona ("SEK") 36.50 for each Class A and Class B share and each GDS. The Board
of Directors of Lundin Oil has recommended that all shareholders of Lundin Oil
accept the Offer.

The Offer is not being made in Canada, Japan, Australia or in any other
jurisdiction in which the offer is or would be unlawful under the laws of that
jurisdiction, and no tenders will be accepted from persons in those
jurisdictions. Accordingly, persons in those jurisdictions who desire to sell
their Lundin Oil B shares or Lundin Oil GDSs should not tender their
securities and should consider selling them in the public market.

One of the conditions of the Offer is that Lundin Oil spin off the shares of
its wholly-owned subsidiary Lundin Petroleum AB ("Lundin Petroleum") to Lundin
Oil shareholders.

Because a significant portion of the assets of Lundin Petroleum will relate to
Lundin Oil's exploration activities in The Republic of the Sudan and because
of issues that could be raised for "U.S. persons" holding Lundin Petroleum
shares as a result of the United States Government's Sudanese Sanctions
Regulations, Lundin Oil has determined that it will not distribute any of the
rights that will automatically convert into Lundin Petroleum shares (the
"Lundin Petroleum Rights") to persons who are holders of record of Lundin Oil
Class B shares with registered addresses in the United States. In addition,
with respect to those persons with United States addresses who are the
beneficial owners of Lundin Oil Class B shares that are held directly or
indirectly through Swedish nominees, Lundin Oil will inform the nominees
holding such shares that they should transfer the Lundin Petroleum Rights
distributed in respect of those shares to a single agent that will sell the
Lundin Petroleum shares arising from the conversion of such Lundin Petroleum
Rights.

No Lundin Petroleum Rights that will convert into Lundin Petroleum shares will
be distributed to holders of Lundin Oil GDSs regardless of the jurisdiction of
the registered or beneficial holders of such Lundin Oil GDSs.

Persons described in the two preceding paragraphs who do not receive the
distribution of Lundin Petroleum Rights that will convert into Lundin
Petroleum shares, including the holders of Lundin Oil GDSs, will receive a
distribution of a pro rata portion of the net cash proceeds from the sale of
the Lundin Petroleum shares arising from the conversion of the Lundin
Petroleum Rights that would otherwise have been distributed to them after such
net cash proceeds have been converted into United States Dollars (the "Lundin
Petroleum Cash Proceeds Distribution").

Holders of Lundin Oil GDSs who tender their GDSs to Talisman AB prior to the
expiration of the Offer will receive a pro rata portion of the Lundin
Petroleum Cash Proceeds Distribution regardless of when they tender their
GDSs.

However, holders of Lundin Oil GDSs who do not tender their GDSs in the Offer
will not receive the Lundin Petroleum Cash Proceeds Distribution unless they
are the holders of record of GDSs on the record date for the Lundin Petroleum
Cash Proceeds Distribution (the "GDS Record Date") that will be established
for such purpose by Morgan Guaranty Trust Company of New York, the Depositary
for the GDSs (the "GDS Depositary").

The GDS Depositary will not establish the GDS Record Date until the GDS
Depositary has received the net cash proceeds from the sale of the Lundin
Petroleum shares that otherwise would have been distributed to the holders of
the GDSs and such proceeds have been converted into United States dollars, so
that the exact amount distributable per GDS is known. This is not expected to
occur until some time in September 2001, assuming that Talisman AB declares
the Offer to be unconditional shortly after the expiration of the initial
offer period on August 17, 2001.

There can be no assurance that the price received by a holder of GDSs who
sells GDSs in the market prior to the GDS Record Date will include an amount
equal to the amount of the Lundin Petroleum Cash Proceeds Distribution that
would be received if the GDS holder retained the GDSs until the GDS Record
Date.

Holders of GDSs who are not "U.S. persons" and who desire to receive the
Lundin Petroleum shares should surrender their GDSs to the GDS Depositary for
cancellation of the GDSs and the delivery of the underlying Lundin Oil Class B
shares prior to the record date for the distribution by Lundin Oil of rights
that will convert into the Lundin Petroleum shares. It is anticipated that
this record date will be as of the close of trading in Stockholm on August 16,
2001, and it is recommended that such non-U.S. holders of GDSs who wish to
receive Lundin Petroleum shares surrender their GDSs to the GDS Depositary for
cancellation before the close of trading on August 13, 2001. Holders of GDSs
who desire to cancel their GDSs and receive the underlying Lundin Oil Class B
shares may be required to establish a brokerage account in Sweden for the
receipt of the underlying Lundin Oil Class B shares. It is solely the
responsibility of a GDS holder who wishes to receive Lundin Petroleum shares
to make appropriate arrangements to surrender their GDSs in a timely fashion
and Lundin Oil assumes no responsibility for these arrangements.

The GDS Depositary will close its books, and thus no additional GDSs will be
issued in exchange for Lundin Oil Class B shares and no Lundin Oil GDSs will
be cancelled, from the close of trading on August 13, 2001 until after the GDS
Record Date. Holders of Lundin Oil securities are reminded that the Offer is
scheduled to expire on August 17, 2001 at 9:00 a.m. (New York City time) and
Letters of Transmittal and Acceptance Forms must be submitted by that date.


                   For further information, please contact:


                                 Ian H Lundin

                              Managing Director

                              Sodra Petroleum AB

                            Tel: +41-22 319 66 00

                                      Or

                  Ashley Heppenstall, Lundin Oil AB (publ),

                           Chief Financial Officer,

                            Tel: +41 22 319 66 00

Notes for editors:

1.     Lundin is the parent company of Sodra by virtue of its holding of
40,506,500 Ordinary Shares of SEK0.05 each. The 40,506,476 Convertible Shares
of SEK0.05 each in Sodra listed on the AIM market are effectively convertible
into the right to subscribe for B Shares in Lundin in November 2001. Upon
exercise of the conversion right, for every 12 Convertible Shares, the holder
will receive a warrant to subscribe for 1 new Lundin B Share at the nominal
value of SEK0.50.

2.     Convertible Shares in Sodra are also listed on the New Market of the
Stockholm Stock Exchange. Lundin B Shares are currently quoted on the
Stockholm Stock Exchange, Toronto Stock Exchange and the Nasdaq National
Market.

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