Lundin Norway Makes Filicudi Oil, Gas Discovery

Lundin Norway AS has made an oil and gas discovery on the Filicudi prospect at well 7219/12-1, located in PL533 in the southern Barents Sea.

The main objective of the well was to prove oil in Jurassic and Triassic sandstone reservoirs. The well encountered a gross 423 foot hydrocarbon column of high quality sandstone reservoir characteristics, with 206 feet of oil and 216 feet gas in the Jurassic and Triassic targets.

The gross resource estimate for the Filicudi discovery is between 35 and 100 million barrels of oil equivalent.

Lundin Norway is the operator of PL533 and holds a 35 percent working interest in the license.



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