Lundin to Spin Bit in North Sea

Lundin Norway received consent to perform exploratory drilling using the Transocean Winner semisub in the Norwegian sector of the North Sea. The consent relates to drilling of well 16/2-6 on the Avaldsnes prospect in Production License 501. The water depth at the site is 377 feet (115 meters). Drilling is expected to commence at the end of June and last about 38 days. Lundin serves as the operator, holding a 40% interest; Statoil holds 40%; and Maersk holds 20% interest.

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