Lundin Spuds Second Well in Malaysian Campaign

Lundin Petroleum AB has commenced the second well in its 2012 Malaysian drilling campaign with the spud of Berangan 1 exploration well in SB303 Block, offshore Sabah, Malaysia.

The well will target hydrocarbons in mid-Miocene aged sands in a faulted anticline in an undrilled sub-basin 6 miles (10 kilometers) to the southeast of the Tarap gas discovery made by Lundin Petroleum in 2011.

A vertical well will be drilled to a depth of 5,577 feet (1700 meters) in approximately 230 feet (70 meters) water depth.

Lundin Petroleum holds 75 percent interest in SB303 through its subsidiary Lundin Malaysia BV. Lundin Malaysia BV’s partner is PETRONAS Carigali Sdn Bhd with 25 percent interest. Lundin Malaysia BV operates five blocks in Malaysia, namely PM308A, PM308B, SB303, SB307 & SB308.

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