Another gas find for Lundin offshore East Malaysia

Lundin Petroleum has notched a second gas discovery on block SB303, offshore Sabah, East Malaysia.

Offshore staff

STOCKHOLM, Sweden – Lundin Petroleum has notched a second gas discovery on block SB303, offshore Sabah, East Malaysia.

The Offshore Courageous rig drilled the Cempulut-1 well in a water depth of around 75 m (246 ft) and to a TD of 1,095 m (3,592 ft).

It intersected a large late-Miocene carbonate reef with good quality reservoir properties. Total vertical pay thickness encountered was roughly 50 m (164 ft). However, the deeper targeted oil leg proved to be water bearing.

An extensive data acquisition program was undertaken including pressure measurements, sampling, and a mini flow test. Data recovered from the well will be analyzed to determine a range of resource estimates.

Ashley Heppenstall, president and CEO of Lundin Petroleum, said: "This is the second gas discovery made by Lundin Petroleum in SB303 and the third in the contract area which also contains the Titik Terang discovery. All three discoveries are in close proximity to one another and with additional undrilled leads and prospects also in the block, a clear opportunity to evaluate the potential for a cluster development now exists.”

Ocean Courageous will next drill the Batu Hitam prospect in PM308A, the third well in Lundin’s five-well drilling campaign off Malaysia this year.

Lundin Petroleum has a 75% interest in SB303, the remainder by Petronas Carigali.

08/04/2011

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