Lundin Spuds Appraisal Well on Alta Discovery

Sweden's Lundin Petroleum reported Wednesday that it has spud an appraisal well on the Alta discovery in the Barents Sea.

The well (designated 7220/11-2) is located on the Norwegian license PL609 approximately 10 miles to the northeast of Lundin's Gohta discovery in the southern Barents Sea and about 4 miles southwest of the Alta discovery well (7220/11-1).

The main objective of well 7220/11-2 is to confirm the reservoir model and prove the presence of hydrocarbon columns and fluid contacts similar to those established in the Alta discovery well.

The planned total depth is 6,625 feet below mean sea level and the well is being drilled using the Island Innovator (mid-water semisub) rig. Drilling is expected to take approximately 60 days.

Lundin Norway holds 40-percent working interest in PL609. Partners are DEA Norge AS and Idemitsu Petroleum Norge AS, which both hold stakes of 30 percent.



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