Lundin Gets Green Light to Drill in North Sea

Lundin Norway received consent to perform exploratory drilling in the Norwegian sector of the North Sea using the mobile facility Maersk Guardian jackup. The consent applies to drilling of exploratory well 3/8-1 in Production License 400 in a water depth of 213 feet (65 meters). Drilling is expected to commence in mid-November 2010 and last for about 61 to 75 days. Lundin Norway operates the license, holding a 50% stake; Petoro AS holds 20%; and Norwegian Energy Company ASA holds 30%.

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