Lundin Spuds Well on Lytham Prospect

Lundin Petroleum has spud the exploration well 41/10a-2 on the Lytham prospect located in block 41/10a, production license P1129, in the Southern sector of the UK North Sea.

The 41/10a-2 is targeting Carboniferous Namurian sandstone and the Haupt and Platten dolomite reservoirs of Permian age. The structure is defined by 3D seismic and is a large 4 way dip closure. The unrisked gross potential is 400 billion cubic feet (bcf) (65 million barrels of oil equivalent (mmboe)).

Lundin Petroleum has contracted the GSF Galaxy II to drill this prospect. Drilling is expected to take one month. The Lytham prospect is the first well of a three well back-to-back exploration drilling program on the UKCS using the same rig.

Lundin Petroleum is the operator with 25 percent interest. Partners are Challenger Minerals (North Sea) Limited and Palace Exploration Company (E&P) Limited with Gulf Shores UK Petroleum Ltd, Eternal Energy Limited, Britcana Energy Ltd and Monarch Energy Limited participating in the well in an earn-in capacity.