Lundin Petroleum AB (Lundin Petroleum), through its wholly owned subsidiary Lundin Norway AS (Lundin Norway), announces that the side-track well 16/2-20A on the Torvastad prospect on PL501 in the North Sea sector of the Norwegian Continental Shelf (NCS), is in the process of being completed.

The well 16/2-20A has been drilled as a side-track 770 metres west of the main Torvastad exploration well 16/2-20S, to investigate the potential of an up-flank continuous Jurassic reservoir.

The reservoir section has been cored with oil shows, but demonstrates poor reservoir quality. Wireline logging is ongoing and preliminary results confirm the core observations. Further wire-line logging is required to confirm the initial results.

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