Lundin Spuds Luno II Appraisal Well

Sweden's Lundin Petroleum reported Monday that it has begun drilling the appraisal well (16/4-8S) on the Luno II discovery in the Norwegian North Sea.

Luno II is located on Norwegian production license PL359 approximately nine miles south of the Edvard Grieg field. The well will appraise the Luno II Central South basin, which is located some 2.5 miles southeast of the Luno II discovery well.

The main objective of the appraisal well is to test the reservoir properties and verify its petroleum potential. The reservoir is expected to be of Jurassic/Triassic age.

The planned total depth of the well is approximately 8,860 feet below mean sea level. Drilling of the well, which is expected to take around 50 days, will be carried out by the Bredford Dolphin rig.

Lundin, the operator of PL359, holds a 40-percent interest in the license, while Statoil and OMV Norge hold 15 percent and 20 percent respectively.



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