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Lundin Spuds Exploration Well Liyeke Marine-1

Source: www.gulfoilandgas.com 8/24/2009, Location: Africa

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Lundin Petroleum AB is pleased to announce that drilling of the exploration well Liyeke Marine-1, located in Block Marine XI Congo, has commenced. The planned depth is approximately 1,130 metres below mean sea level and the well will be drilled by using the jack-up drilling rig Pride Cabinda. The drilling operation is expected to take 25 to 35 days, with testing additional in the event of success.

The well is targeting a post-salt, Sendji formation reservoir. Lundin Petroleum estimates gross unrisked prospective resources of 73 million barrels of oil equivalent (MMboe).

Lundin Petroleum has a 18.75 percent working interest in the licence which is operated by SOCO International.

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