Lundin Petroleum AB's wholly owned subsidiary Lundin Norway AS has been awarded seven new exploration licence interests in the 2007 Norwegian APA Licencing Round. These include four licences which will be operated by Lundin Petroleum. The licence interests detailed below are located in the North Sea, the Norwegian Sea and the Barents Sea.

Licence Lundin Petroleum

licence interest

Block 2/5 75%*

Block 8/4, 5, 7, 8, 9, 11 & 12

(blocks 8/8 & 8/11:200m below base jurassic and younger) 30%*

Block 6507/11 30%

Block 6609/8 & 9 (all formations below base cretaceous) 20%

Block 6609/8, 9, 10 & 11 30%

Block 7120/1 & 2 40%*

Block 7120/ 4, 5 & 6 40%*

*operator Lundin Petroleum

The work programme associated with the acquired licences includes the drilling of one exploration well and acquisition/interpretation of new and old seismic data.

Ashley Heppenstall, President and CEO Lundin Petroleum said,"We are again pleased with this latest licencing round which highlights our continued commitment to exploration in Norway. The awarded licences complement our existing Norwegian licence interests which together will ensure continued exploration drilling activity for Lundin Petroleum. Our objective is for further hydrocarbon discoveries to add to last years Luno find"

Tags: Lundin Petroleum