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LNDNF - Lundin Petroleum In Q1: Positive FCF Debt Reduction
Lundin Petroleum AB
Lundin Petroleum (LUPEY, LNDNF, LNDNY), a Swedish E&P firm focused on the Norwegian Continental Shelf, which I have been covering since November 2018, presented its Q1 earnings to the investor community on May 2. After reading the report, I should conclude that I am not confused or disappointed. I have already noticed a drop in revenue, cash flow, and net income of its Scandinavian peer Aker BP (DETNF) and anticipated something similar in consolidated statements of LUPEY. After the announcement, which contained dramatic EPS slump and weaker top line,