Apollo Sings for Lundin

Lundin Petroleum has made an oil discovery in exploratory well 16/1-4 targeting the Apollo prospect, in PL 338, in the Norwegian sector of the North Sea.

Reaching a total depth of 8,366 feet (2,550 meters) by the Transocean Winner, the well's primary objective was to target the extension into PL 338 of the Jurassic reservoir associated with the Draupne discovery. Secondary objectives were targeted at both the Paleocene and the Upper Jurassic/Lower Cretaceous sand sequences.

A 131-foot (40-meter) gross oil column was encountered at the Paleocene level, and a 33-foot (10-meter) gross oil column with excellent reservoir qualities was found at the Cretaceous level. An additional 197 feet (60 meters) of good quality Cretaceous sands were encountered below the oil water contact, resulting in excellent potential up-dip of the discovery.

Further delineation drilling is required, but Lundin believes the initial recoverable resources range is estimated at 15 to 65 million barrels of oil. Lundin operates the license, holding a 50% interest; Wintershall holds 30%; and RWE Dea holds the remaining 20% interest.

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