WEST COURAGEOUS SPUDS OFF SABAH FOR LUNDIN

July 10, 2012

Lundin, the Swedish oil and gas explorer based in Stockholm announced that it has kicked off its  2012 Malaysian drilling campaign with the spud of the Tiga Papan 5 well in the SB307 & SB308 Block offshore Sabah, East Malaysia. The well is the first of the five well programme planned in 2012 by Lundin Malaysia BV in its Malaysian Blocks. The Offshore Courageous, a 350’ Le Tourneau super 116 jack up from Seadrill, is assigned to the program. The well will target mid-Miocene aged sands of the Tiga Papan Unit previously tested in 1982 with the original discovery well that flowed at a cumulative rate of 5,631barrels of oil per day.