Lundin Petroleum Drilling Ahead on Munir Block in Iran

Lundin Petroleum says that the Sehqanat-1 deep well located on the Munir block in Iran has reached an initial depth of 1,828 meters and has penetrated the Asmari and Sarvak reservoirs as anticipated. Logs have been run, casing has been cemented and the rig is currently on standby waiting for equipment in order to resume drilling operations as per the drilling program.

The plan is to reach a total target depth of 2,887 m in order to penetrate a further five potential reservoirs. In the absence of any further operational delays with regards to the well, expected target depth will be reached within 65 to 75 days once drilling operations resume.

The Munir Block is operated by Edison Gas (40% working interest) with partners Petronas Carigali Overseas Sdn Bhd (30%) and Lundin Petroleum (30%). The Block is located within the Zagros Foldt Belt which is one of the most oil prolific basins in the world.

Ashley Heppenstall, President and CEO of Lundin Petroleum comments: "Despite our frustration with the operational delays to date we continue to be encouraged by the prospectivity of our Iranian exploration drilling campaign."