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Lundin spuds appraisal well on Alta discovery in Barents Sea

March 25, 2015

STOCKHOLM, Sweden -- Lundin Petroleum, through its wholly owned subsidiary Lundin Norway, has started drilling appraisal well 7220/11-2 in PL609.

The Alta discovery is located 10–20 km northeast of Lundin Petroleum’s Gohta discovery in the Barents Sea South and approximately 160 km from the Norwegian coastline. Appraisal well 7220/11-2 is located 6.5 km southwest of the Alta discovery well, 7220/11-1, which was completed in October 2014.

The main objective of the appraisal well is to confirm the reservoir model and prove the presence of hydrocarbon columns and fluid contacts similar to those established in the Alta discovery well.

The planned total depth is 2,020 m below mean sea level, and the well is being drilled using the Island Innovator. Drilling is expected to take approximately 60 days.

Lundin Norway holds a 40% working interest in PL609. Its partners are DEA Norge and Idemitsu Petroleum Norge, each with a 30% working interest.

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