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Sverdrup exploration well has been completed

STOCKHOLM, Sweden -- Lundin Petroleum AB, through its wholly-owned subsidiary Lundin Norway AS, has announced the completion of wildcat well 6608/2-1S.

The well was drilled in PL330 about 60 km east-southeast of the Aasta Hansteen gas field in the Norwegian Sea.

The exploration well 6608/2-1S, operated by RWE Dea Norge AS, was targeting the Sverdrup prospect. The well confirmed the existence of an active petroleum system but did not encounter reservoir rocks. The well is being plugged and abandoned as a dry hole. The well is the first exploration well in PL330.

The well was drilled to a vertical depth of 5,574 m below the sea surface, and was terminated in rocks of Lower Cretaceous age. The well was drilled with the rig Transocean Winner.

Lundin Norway AS is a partner in PL330 with 30 percent working interest. The operator is RWE Dea Norge AS with 40 percent interest while Marathon Oil Norge AS has 30 percent working interest.



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