LONDON -- Lundin Petroleum has commenced the fourth well in its 2012 Malaysian drilling campaign with the spud of Tembakau-1 exploration well in PM307 Block, offshore east coast Malaysia peninsula.

11/8/2012

Lundin Petroleum commences Tembakau exploration well, offshore Peninsula Malaysia

LONDON -- Lundin Petroleum has commenced the fourth well in its 2012 Malaysian drilling campaign with the spud of Tembakau-1 exploration well in PM307 Block, offshore east coast Malaysia peninsula.

The well will target hydrocarbons in Oligocene and Miocene aged sands in a low relief structure 50 km to the northwest of the Bertam-2 oil discovery made by Lundin Petroleum in 2011.

Tembakau-1 is a vertical well to be drilled by the jackup rig West Courageous to a depth of 1,650 m in approximately 80-m water depth. The drilling of the well is expected to take two to three weeks.

Lundin Petroleum holds 75 % interest in PM307 through its subsidiary Lundin Malaysia. Lundin Malaysia partner is Petronas Carigali with 25% interest. Lundin Malaysia operates six blocks in Malaysia.

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