Lundin Halts Neiden Prospect Drilling Due to Winter Restrictions

Lundin Petroleum AB announced Thursday that its wholly owned subsidiary Lundin Norway AS has had to temporarily suspend drilling operations on exploration well 7220/6-2, on the Neiden prospect in PL609, due to winter restrictions on the use of the Island Innovator (mid-water semisub).

The company revealed that it had successfully drilled a section of the exploration well prior to suspension and stated that operations to complete well 7220/6-2 are expected to resume next year. Lundin Petroleum believes the Neiden prospect could contain unrisked, gross prospective resources of 204 million barrels of oil equivalents.

Lundin Norway is the operator of and holds a 40 percent working interest in PL609. Its partners in the license comprise DEA Norge AS and Idemitsu Petroleum Norge AS, both of which hold a 30 percent working interest.



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