Lundin Restarts Operations on Munir Block in Iran

Lundin Petroleum reports that the drilling operations on the Munir Block, onshore Iran recommenced on April 10th.

Since recommencement of drilling operations, good progress has been made on the Seh Qanat deep-1 (SQD-1) well which has now reached a depth of 2,140 meters. Total target depth is 2,887 meters and in the absence of further operational delays it is expected that the well will reach its target depth, with casing and logging completed, by the end of June 2004.

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 Fold Belt which is one of the most prolific oil basins in the world.