Lundin Strengthens Management Team

Teitur Poulsen will assume the position of VP Corporate Planning & Investor Relations effective September 3, 2012 and will assume overall responsibility for investor relations as well as corporate development.

Teitur Poulsen re-joins Lundin Petroleum from Det norske oljeselskap ASA where he has served as Chief Financial Officer for the last 1.5 years. Prior to that he worked for Lundin Petroleum for 4.5 years where he held various positions including Group Economics and Planning Manager. Teitur Poulsen has also previously worked for Faroe Petroleum plc and Dana Petroleum plc.

In addition to the VP Corporate Planning & Investor Relations, Lundin Petroleum has also created a role of Manager, Media Communications to be filled with immediate effect by Robert Eriksson. Robert Eriksson worked as a business reporter in Sweden during the late 1990's and early 2000's. He served as the US correspondent of Swedish business daily Finanstidningen during the period 2000 to 2001. Robert Eriksson has held several communications positions within companies associated with the Lundin family since 2003.

Maria Hamilton will continue as Lundin Petroleum's Head of Corporate Communications.

"We are pleased to welcome Teitur and Robert to Lundin Petroleum. Together with Maria Hamilton and the rest of the team we will ensure that Lundin Petroleum continues to communicate closely with our investors, the media and the general public as we grow our operations and continue to deliver value to our shareholders," commented Lundin Petroleum's President and CEO Ashley Heppenstall.