Lundin confirms Nemo field extension

Lundin Petroleum has confirmed an extension of the Nemo field after drilling appraisal well 7/4-2 in block 7/7 and 7/4 production license PL 148, on the Norwegian Continental Shelf (NCS).

Offshore Staff

STOCKHOLM, Sweden -- Lundin Petroleum has confirmed an extension of the Nemo field after drilling appraisal well 7/4-2 in block 7/7 and 7/4 production license PL 148, on the Norwegian Continental Shelf (NCS).

The well was drilled to a vertical depth of 3,416 m (11,207 ft) below the sea surface. The well encountered hydrocarbons in the Ula Formation. The well was not tested as the required data was obtained through a data acquisition program, including reservoir fluid sampling.

Initial estimates of revised gross resources for the Nemo field are now 20 - 30 MMbbl.

Lundin Norway AS is the operator of PL148 with a 50% working interest. Partners are Talisman Energy Norge AS (30%) and Norwegian Energy AS (Noreco) (20%).


02/18/2008

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