Lundin to Plug and Abandon Censa-Ormat 1 Well in France

Lundin Petroleum has completed the drilling and testing operations of the Censa-Ormat 1 exploration well located in the Val des Marais exploration permit, onshore France.

The well reached the Dogger reservoir, the main target, where a potential oil producing zone was identified for testing. The zone initially produced oil at a rate of 300 bopd from a fractured reservoir system but unfortunately the water cut then increased to approximately 99%. As a result the well is non-commercial and will be suspended.

Ashley Heppenstall President and CEO, comments as follows: "Whilst we are disappointed with the results of this exploration well we remain confident that the Paris Basin does have further exploration potential. This is clearly seen from the recently announced reserve additions in the Les Merisier field where we have added at least 25% to our net reserves in the Paris Basin."