Lundin to begin Morskaya-1 drilling

Lundin Petroleum has started mobilization and installation of the marine drilling complex that will drill the Morskaya-1 exploration well in the Lagansky block, northern Caspian Sea.

Offshore staff

STOCKHOLM, Sweden -- Lundin Petroleum has started mobilization and installation of the marine drilling complex that will drill the Morskaya-1 exploration well in the Lagansky block, northern Caspian Sea.

Drilling will begin on the well after final approval of the installed and commissioned installation. A drilling permit was granted in February 2008, allowing drilling operations to begin after May 15.

The gross unrisked prospective resources for Morskaya prospect within the Lagansky block are estimated at 640 MMboe.

04/07/2008

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