Lundin spuds Ghota probe

May 23, 2014

Lundin Petroleum has started drilling of appraisal well 7120/1-4s in PL492 on the Gohta discovery, 155 km northwest of the Norwegian coast and 5.7 km northwest of the original Gohta discovery well.

The well's main objective is to test the reservoir properties and hydrocarbon potential of the Permian carbonates in the Gohta karst Røye formation and the overlying Kobbe formation sandstones.

The Gotha discovery well 7120/1-3 was completed in October 2013 and found a 25m gross gas column above a 75m gross oil column in karstified and dolomitized limestone. The well production tested approximately 4300 bo/d through a 44/64in. choke and the preliminary evaluation of the gross recoverable oil and gas resources from the Gohta discovery is estimated at 105-235MM boe.

The planned total depth is 2930m below mean sea level and the well will be drilled using the drilling rig Island Innovator. Drilling is expected to take about 65 days.

Lundin Norway is the operator and has a 40% working interest in PL 492. The partners are Det norske oljeselskap ASA with a 40% working interest and and Noreco Norway AS with a 20% working interest.



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