Lundin Petroleum Begins Operations Offshore UK

Lundin Petroleum began operations on development well 2/5-25 in the Broom field in Block 2/5 on the United Kingdom Continental Shelf.

Well 2/5-25 will be drilled as a sidetrack of one of the three existing production wells on the West Heather structure and tied-back to the existing Heather Platform, operated by Lundin Petroleum. Production is expected to come on stream in Q1 2008. The well will receive pressure support from the existing injection wells.

Proven plus probable gross remaining reserves in the Broom field are 30.9 million barrels of oil equivalents with gross total ultimate recoverable reserves for the field of 54.7 million barrels of oil equivalents.

Lundin Petroleum has contracted Transoceanís GSF Arctic II semisubmersible rig to drill this well.

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