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Lundin Petroleum Spuds Exploration Well 25/5-6 In PL363, Norway

Published: 27-Aug-2009

Lundin Petroleum AB (Lundin Petroleum) has started drilling the exploration well 25/5-6 on the Mon prospect. The well is located in license PL363, in the Norwegian sector of the North Sea. PL363, located some 30 kilometers northeast of the Alvheim Field, contains two main prospects, the Mon and Monster prospects. Well 25/5-6 will target sandstones of Tertiary age in a stratigraphic trap.

The Mon prospect is estimated to contain gross unrisked prospective resources of 123 MMboe.

The planned total depth is approximately 2,400 meters below mean sea level. The well will be drilled from the semi-submersible drilling rig Transocean Winner. Drilling is expected to take approximately 40 days, excluding test.

Lundin Petroleum will have an operated 45% working interest with partners VNG Norge (Operations) AS (40% working interest) and Centrica Resources (Norge) AS with 15% working interest (subject to Norwegian Government approval).

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