Lundin Garners Six UK Blocks

Lundin Petroleum AB said that it has been awarded interests in six exploration licenses in the 24th UK Licensing Round. The license interests include 3 operated licenses and 3 non-operated participating interests.

The six awarded licenses are:

--211/1, 211/2 & 211/3 (Lundin Petroleum, operator 60%)
--3/6b & 3/11c (Lundin Petroleum, operator 100%)
--9/9 e (Lundin Petroleum, operator 60%)
--14/30a (Lundin Petroleum 20%)
--16/8c (Lundin Petroleum 35%)
--22/16 (Lundin Petroleum 35%)

Ashley Heppenstall President & CEO of Lundin Petroleum commented: "We are very pleased with the award of further licenses in the United Kingdom on the back of our recent award in Norway. We are committed to a proactive exploration strategy in the North Sea"

Lundin Petroleum is a Swedish independent oil and gas exploration and production company with a well balanced portfolio of world-class assets in Europe, Africa, Russia and the Far East. The Company is listed at the Nordic Exchange, Sweden (ticker "LUPE"). Lundin Petroleum has existing proven and probable reserves of 176.4 million barrels of oil equivalent (mmboe) as at 1 January 2007.

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