Lundin Spuds Liyeke Marine-1 Offshore Congo

Lundin Petroleum AB (Lundin Petroleum) on Monday announced that drilling of the exploration well Liyeke Marine-1, located in Block Marine XI Congo, has commenced.<P>

The planned depth is approximately 1,130 meters below mean sea level and the well will be drilled by using the jack-up drilling rig Pride Cabinda. The drilling operation is expected to take 25 to 35 days, with testing additional in the event of success.<P>

The well is targeting a post-salt, Sendji formation reservoir. Lundin Petroleum estimates gross unrisked prospective resources of 73 million barrels of oil equivalent (MMboe).<P>

Lundin Petroleum has a 18.75 percent working interest in the license which is operated by SOCO International.<P>

Lundin Petroleum is a Swedish independent oil and gas exploration and production company with a well balanced portfolio of world-class assets in Europe, Africa, Russia and the Far East. Lundin Petroleum has proven and probable reserves of 265 million barrels of oil equivalent (mmboe).