lundin petroleum ab (LNDNF) Snapshot

Lundin Petroleum AB announced that the Johan Sverdrup appraisal well 16/2-17S found a gross column of 82 metres of oil bearing good quality sandstone of Jurassic age in PL265. Well 16/2-17B was drilled as a side-track west of the Johan Sverdrup boundary fault to explore the southern part of the Cliffhanger prospect, but did not find reservoir. The Johan Sverdrup field is located in PL501, PL265 and PL502 on the Norwegian Continental Shelf (NCS). Appraisal well 16/2-17S was drilled approximately 1.5 kilometres south west of appraisal well 16/2-8 in PL265 and 2.4 kilometres north west of appraisal well 16/2-11 in PL501. The purpose of the well was to investigate reservoir thickness and properties close to the main bounding fault marking the western limit of Johan Sverdrup discovery. The well found 82 metres gross oil column of which 39 was of excellent quality. The lower 43 metres oil column consists of inter bedded shales and high quality sandstone layers. An oil water contact was established similar to the neighbouring wells. Both intervals were production-tested with rates of 5,900 barrels of oil per day (bopd) and 1,500 bopd respectively. Both tests indicate large lateral reservoir extension and they are in pressure communication. Well 16/2-17B was drilled as a side-track approximately 800 meters west of the main well with objectives to explore for Jurassic reservoir sequence and investigate potential reservoir properties of the basement rocks west of the Johan Sverdrup main bounding fault. No reservoir sequence was found and the basement was evaluated as tight. Wells 16/2-17S and 16/2-17B were drilled using the semi submersible drilling rig Ocean Vanguard which will continue to drill appraisal well 16/2-18 in PL265 after a short yard stay.

Lundin Petroleum AB announce that drilling of appraisal well 16/3-6 in PL501 on the Johan Sverdrup field located in the North Sea sector of the Norwegian Continental Shelf (NCS), has commenced. The well is located on the north eastern flank of the field with the objective to establish the depth, quality and thickness of the Jurassic reservoir sequences approximately 3.3 km south east of well 16/2-13S drilled on the north flank and 2 km northwest of well 16/3-4. These wells found excellent quality sandstone of Jurassic age. The planned total depth is approximately 2,025 metres below mean sea level and the well will be drilled by using the semi-submersible drilling rig Bredford Dolphin. The drilling operation is expected to take approximately 50 days. Lundin Petroleum is the operator of PL501 with 40% interest. Partners are Statoil Petroleum AS with 40% and Mærsk Oil Norway with 20% interest. Lundin Petroleum is a Swedish independent oil and gas exploration and production company with a well balanced portfolio of world-class assets primarily located in Europe and South East Asia. The Company is listed at the NASDAQ OMX, Stockholm (ticker "LUPE") and at the Toronto Stock Exchange (TSX) (Ticker "LUP"). Lundin Petroleum has proven and probable reserves of 202 million barrels of oil equivalent (MMboe). This information has been made public in accordance with the Securities Market Act (SFS 2007:528) and/or the Financial Instruments Trading Act (SFS 1991:980).

Lundin Petroleum AB (publ) through its wholly owned subsidiary Lundin Norway AS announced that the Johan Sverdrup appraisal well 16/2-21 located in PL501 is successfully completed. Well 16/2-21 appraised the Johan Sverdrup discovery 3.8 km north of well 16/5-2S and 2.5 km west of well 16/2-7 and found a net oil column of 12 metres in a gross Jurassic reservoir sequence of 30 metres. The Jurassic sequence has excellent reservoir quality with a high net to gross ratio. The oil water contact was established at 1,922 meters below mean sea level. The well was drilled to a total depth of 2,045 metres below mean sea level and will now be plugged and abandoned. The well was drilled using the semi-submersible drilling rig Bredford Dolphin. The rig will now drill well 16/3-6 also located in PL501 to appraise the north-eastern flank of the discovery.