Lundin spuds well on Biotitt prospect

July 23, 2013

Lundin Petroleum AB (Lundin Petroleum) began drilling of exploration well 16/4-7 in PL544. The well will target the Biotitt prospect, which is located some 35 km south of the Edvard Grieg Field and 46 km southwest of the Johan Sverdrup Field.

The main objective of well 16/4-7 is to prove the presence of hydrocarbons in Jurassic sandstone reservoirs. Lundin Petroleum estimates the Biotitt prospect to have the potential to contain unrisked, gross, prospective resources of 124 MMboe.

The planned total depth is 2,760 m below sea level and the well will be drilled using the drilling rig Bredford Dolphin. Drilling is expected to take about 35 days.

Lundin Petroleum, through its wholly owned subsidiary Lundin Norway, is the operator with 40% working interest in PL544. Partners are Bayerngas Norge AS and Explora Petroleum AS, each with 30% working interest.



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