Lundin Wraps Up Exploration Drilling at Hyme Prospect

Lundin Petroleum completed drilling of the exploration well 2/5-14S in PL 006C, in the North Sea sector of the Norwegian Continental Shelf.

The purpose of the Hyme exploration well was to test a promising yet high risk stratigraphic trap within the Upper Cretaceous Tor and Ekofisk chalk formations located on the western flank of the South East Tor oil discovery. The well results were mixed: the main objective Chalk reservoir at the Hyme location encountered indications of hydrocarbons but lower than expected porosity; however, the well penetrated a number of better developed Paleocene sandstones, which showed good indications of hydrocarbons. While it was not possible to recover fluid samples from this horizon due to well stability concerns, the Paleocene sands will be further investigated, as they have the potential to add significant further resource potential to the adjacent undeveloped South East Tor oil field.

The Hyme drilling operation was undertaken using the Maersk Gallant rig on behalf of license partners Lundin (75% and operator), Noreco (15%) and Faroe (10%). Lundin has commenced plugging and abandonment procedures.

The joint venture agreed to drill the South East Tor appraisal well immediately after completing the Hyme exploration well and from the same location. However, Lundin has decided not to drill the planned South East Tor appraisal well back to back with the Hyme exploration well. Lundin will conduct further analysis, incorporating the Hyme results and prepare a new drilling plan to optimize the South East Tor appraisal well, to be drilled at a future date, which will evaluate both the chalk and the newly discovered Paleocene.

The South East Tor oil field lies in 67 meters of water within the Upper Cretaceous Tor and Ekofisk chalk formations. There are prolific producing reservoirs in the nearby Ekofisk, Valhall and Tor fields.

The South East Tor discovery well 2/5‐3 was drilled in 1972 on the crest of a salt induced anticline. The well encountered oil in both the Tor and Ekofisk Formations at approximately 3,000 meters below sea‐level, and was successfully tested, with 43-degree API oil quality at 4,525 barrels of oil per day (bopd) from the Tor Formation and also 4,281 bopd from a separate test in the Ekofisk Formation. The discovery has subsequently been appraised by two appraisal wells in 1973 and 1988. South East Tor is located within tie‐back distance of a number of potential production hosts in the area.



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