Lundin: we do not have sold Africa Oil shares
Oil Hunter Africa Oil has gone bad on the stock exchange this year after rumours that the Lundin family have sold shares. Storägaren Lukas Lundin, however, dismiss the data and are now choosing to go out with what percentage of the company he controls.
The uncertainty about how much the Lundin family owns is because the task is missing in Africa oil's official owner's list. The oil company is Canadian and huvudnoterat on the Toronto Stock Exchange but traded on First North in Stockholm.
In Canada, an owner remain secret as long as ownership is less than 10 percent of the company.
In an interview with di.se says Lukas Lundin family owns 8.07 percent of Africa Oil and thus falls under the limit for public investments.
He also refutes the information to news agency Directly for two weeks that the Lundin group recently sold large blocks of shares in Africa Oil, but that information has come the other owners.
"It is completely wrong. I don't know where it comes from. If we sell a company, it is in a position when we sell the whole company, so that all shareholders can take part of it. it's not our thing to sell a little bit at a time. It is exactly the same as we always have done. We have done so in 20 years and I've got the same issues over the 20 years, "said Lukas Lundin.
So you do not intend to reduce your ownership as long as Africa Oil remains as an independent company? "No." Maybe if the share goes up to 500 pounds, then perhaps we are looking at it, "said Lukas Lundin, referring to that it would be a huge surge from today's price of 42 euros.
Can you imagine to publish how much you own in Africa Oil, although it is not a requirement from the stock market? "We do so much already, but still all want to know more. we follow all the rules that apply to us now and we will of course also have to follow all the rules listed on the Stockholm Stock Exchange as we move up there".
How much insight you have in Africa Oil? "I don't sit on the Board so I get the information like any other shareholder. We are major shareholders, it is clear that I'm talking strategy sometimes with Keith (Hill, Africa oil's Managing Director, reds note) ".
Do you have any insiders regarding individual drilling results and the like? "No, I have not, not in terms of the type of questions at the micro level," said Lukas Lundin.
Africa oil's share has in recent years gone like a rocket. This year, however, his luck turned. On Thursday, the company's share price had its worst day since the Africa oil's listed on First North.
Shares fell 11 percent after the announcement that the company has drilled dry in Emong 1-well in Kenya, located in the so-called Lokichar-bassägen. Fall so far in 2014 is 22 percent.
Lukas Lundin says that they have difficulties understanding course fall.
"Now, the company has made seven discoveries in line in Lokichar in Kenya. Then it is no wonder that the eighth becomes a dry drilling. It's still a good track record. This area is as large as the North Sea and Africa Oil has many holes left to drill. I don't really understand how people think when they go out of stock because of a single bad drilling. These things happen in the oil industry-it is not possible to get away from, "he says.
Olle A.g.
olle.aronsson@di.se
@OlleAronsson
