LUNDIN SPUDS EXPLORATION WELL ON BORSELV PROSPECT

Lundin Petroleum AB (Lundin Petroleum) announced that its wholly owned subsidiary Lundin Norway AS has commenced drilling of exploration well 7220/6-3 on the Borselv prospect in PL609 on the Loppa High in the southern Barents Sea.
The well is located on-trend north of the Alta and Neiden oil discoveries, approximately 18 km northwest of the Neiden discovery well.
The main objective of the well is to test the reservoir properties and hydrocarbon potential ofPermian-Carboniferous carbonate reservoirs. The Borselv prospect is estimated to contain gross unrisked prospective resources of 244 MMboe.
The well will be drilled with the semi-submersible drilling rig Leiv Eiriksson and is expected to take approximately 35 days. Planned total depth for the well is approximately 1,300 metres.
Lundin Norway is the operator of PL609 with a 40 percent working interest. The partners are DEA Norge AS and Idemitsu Petroleum Norge AS with 30 percent working interest each.
The well is drilled using the semi-submersible Leiv Eiriksson. (Source and image: Lundin)