Lundin Spuds Barents Sea Well

Lundin Petroleum AB announced Monday that its wholly owned subsidiary Lundin Norway AS has spud exploration well 7220/6-2, located in PL609 on the Neiden prospect in the Barents Sea.

The planned total depth of the well, which is being drilled using the Island Innovator (mid-water semisub), is approximately 4,429 feet below mean sea level. Drilling is expected to take approximately 40 days. Lundin Petroleum estimates the Neiden prospect to have the potential to contain unrisked, gross prospective resources of 204 million barrels of oil equivalents.

Lundin Norway holds a 40 percent working interest in PL609. Partners DEA Norge AS and Idemitsu Petroleum Norge AS both hold a 30 percent working interest.



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