Lundin Starts Drilling Carlsberg Prospect

Lundin Petroleum reported Friday that it has spud exploration well 7/4-3 on production license 495, offshore Norway. The well is targeting the Carlsberg prospect, which is located some 15 miles north of the Lundin-operated Brynhild field in the North Sea and approximately 14 miles east of the UK's Everest field.

The main objective of the well is to prove the presence of hydrocarbons in Upper Triassic and Upper Cretaceous reservoirs. Lundin estimates that the Carlsberg prospect contains un-risked, gross, prospective resources of 67 million barrels of oil equivalent.

Drilling, which is being carried out by the Maersk Guardian (350' ILC) rig, is expected to take approximately 65 days.

Lundin is the operator, with a 60-percent working interest in PL 495. Tullow Oil Norge has a 40-percent working interest.



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