Lundin wins seven Norway licenses

Lundin Norway AS has been awarded seven new exploration license interests in the 2007 Norwegian APA Licensing Round.

Offshore staff

STOCKHOLM, Sweden -- Lundin Norway AS has been awarded seven new exploration license interests in the 2007 Norwegian APA Licensing Round. These include four licenses which will be operated by Lundin Petroleum. The license interests are located in the North Sea, the Norwegian Sea, and the Barents Sea.

License
Block 2/5 (75% interest)
Block 8/4, 5, 7, 8, 9, 11 & 12 (30% interest*)
Block 6507/11 (30% interest)
Block 6609/8 & 9 (20% interest)
Block 6609/8, 9, 10 & 11 (30% interest)
Block 7120/1 & 2 (40% interest*)
Block 7120/ 4, 5 & 6 (40% interest*)

*operator Lundin Petroleum

The work program associated with the acquired licenses includes the drilling of one exploration well and acquisition/interpretation of new and old seismic data.

"We are again pleased with this latest licensing round which highlights our continued commitment to exploration in Norway," says Ashley Heppenstall, president and CEO of Lundin Petroleum. "The awarded licenses complement our existing Norwegian license interests which together will ensure continued exploration drilling activity for Lundin Petroleum. Our objective is for further hydrocarbon discoveries to add to last year's Luno find."

02/11/2008

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