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Lundin Wraps Up Snurrevad-Juksa Exploration Well

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Lundin Petroleum announced Monday that its subsidiary Lundin Norway is completing the drilling of exploration well 7120/6-3 S on Norwegian production license 490. The well targeted two levels in the Snurrevad-Juksa prospect situated six miles northwest of the Snohvit field in the Barents Sea, offshore northern Norway.

The main objective of the well was to prove the presence of hydrocarbons in Lower Cretaceous/Upper Jurassic reservoirs.

Preliminary analysis of a cored section of the reservoir indicate thin oil bearing sands in a 26-to-30 feet zone at the top of a 82-foot Lower Cretaceous sand sequence. No reservoir was found to be present in the Snurrevad target. Further geophysical and geological studies are required to clarify the potential in the Juksa target.

The drilling rig Transocean Arctic (mid-water semisub) drilled the well to a total depth of approximately 9,820 feet below mean sea level, in a water depth of 1,083 feet.

Lundin Norway is the operator of PL490 with a 50-percent interest. Partners are Spring Energy Norway with a 30-percent interest and Norwegian Energy Company with a 20-percent interest.



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