Lundin Drills Fifth Johan Sverdrup Appraisal, Resumes Albert Drilling

Stockholm-based Lundin Petroleum reported Monday it has confirmed excellent reservoir properties in the fifth Johan Sverdrup appraisal well.

The company encountered an 82 foot (25 meter) gross oil column in the Upper and Middle Jurassic sandstone reservoir in appraisal well 16/2-13S in Production License 501 on the northeastern part of the Johan Sverdrup discovery.

Drilled by Transocean Arctic (mid-water semisub), the well's main objective was to determine depth to top reservoir, reservoir quality and thickness, and oil water contact in the northeastern part of the field. The well was drilled to 6,758 feet (2,060 meters) below sea level into pre-Permian rocks.

"We are pleased with the results of the latest Johan Sverdrup appraisal well, particularly the fact that it confirms the structural model and the extent of the field in this area," said Heppenstall, noting that the company had encountered excellent quality Volgian reservoir at this location.

Lundin is operator of PL501 with 40 percent interest. Partners include Statoil with 40 percent and Maersk Oil Norway with 20 percent.

Lundin will now sidetrack the well 4,101 feet (1,250 meters) towards the north to investigate the depth to top reservoir, lateral thickness and property variations of the Jurassic reservoir to establish an oil water contact. The sidetrack will take approximately 30 days.

Lundin has also resumed drilling exploration well 6201/11-3 in PL519, which is targeting the Albert prospect. Drilling was halted in June so the rig drilling the well, Bredford Dolphin (DW semisub), could be moved to a Norwegian shipyard for completion of its five-year renewal survey.

The company is testing the Crestaceous and Triassic age sandstones of a multiple target structure. Lundin estimates Albert to contain unrisked, gross, prospective resources of 177 million barrels of oil equivalent.

Drilling is expected to take 25 days, with a planned total depth for the well of 10,334 feet (3,150 meters). Drilling resumed at 6,955 feet (2,120 meters).

Lundin is operator of PL519 with 40 percent. Partners include Bayerngas Norge AS, Norwegian Energy Company and Spring Energy Norway AS with 20 percent interest each.


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