Lundin Drills Third Well Offshore Malaysia in 2012 Campaign

Lundin Petroleum AB has commenced the third well in its 2012 Malaysian drilling campaign with the spud of Merawan Batu-1 exploration well in PM308B Block, offshore east coast Peninsula Malaysia.

The well will target hydrocarbons in Oligocene aged sands in a faulted anticline in an undrilled area 31 miles (50 kilometers) to the west of the Janglau oil discovery made by Lundin Petroleum in 2011.

Merawan Batu-1 is a vertical well to be drilled by the jackup rig West Courageous (350' ILC) to a depth of 11,759 feet (3,584 meters) in approximately 197-foot (60-meter) water depth.

Lundin Petroleum holds 75 percent interest in PM308B through its subsidiary Lundin Malaysia BV. Lundin Malaysia BV''s partner is PETRONAS Carigali Sdn Bhd with 25 percent interest. Lundin Malaysia BV operates six blocks in Malaysia, namely PM307, PM308A, PM308B, SB303, SB307 & SB308.

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