Lundin Resumes Production from Les Merisiers Field in France

Lundin Petroleum says its new development well successfully drilled in the first half 2003 on the Courgivaux concession in the Paris Basin has now resulted in a resumption of production from the Les Merisiers field. The field is currently producing from one well at approximately 250 bopd. The successful completion of this well will most likely lead to the full development and production of the Les Merisiers field and a material increase to the Company's reserves in the Paris Basin. Lundin Petroleum has a 100% working interest in the Les Merisiers field.

In other news, the "Censa-Ormat 1" exploration well located in the Val des Marais exploration permit, onshore France (Lundin Petroleum 45% working interest) has reached the Dogger reservoir (the main target) where a potential oil producing zone has been identified. Testing operations commenced but were temporarily suspended due to mechanical problems. It is expected that testing operations will resume shortly. The secondary target of the well (the Rhaetian) was not reached due to deteriorating hole conditions at lower depth.

Ashley Heppenstall, President and CEO comments as follows: "We are pleased that the current drilling activities in the Paris Basin have so far yielded positive results. I expect the Les Merisiers field to add at least 25% to our net reserves in the Paris Basin and a material increase to our production levels when fully developed. We believe the Paris Basin has still excellent opportunities for further development and exploration."