Sweden's Lundin Petroleum AB strikes oil in Norway

Nordic Business Report, Oct 22, 2007

NORDIC BUSINESS REPORT-22 October 2007-Sweden's Lundin Petroleum AB strikes oil in Norway(C)1994-2007 M2 COMMUNICATIONS LTD http://www.m2.com

Swedish oil and gas exploration and production company Lundin Petroleum AB announced on Monday (22 October) that it has discovered oil in its exploration well on the Luno prospect in the Norwegian North Sea.

The Luno prospect is located in licence PL 338, for which Lundin Petroleum is operator with a 50% stake. Lundin Petroleum's partners in the licence are Revus Energy ASA and RWE Dea Norge AS.

Lundin Petroleum said that it discovered light oil in a clastic Jurassic reservoir, and that it is currently analysing samples.

Lundin Petroleum, headquartered in Stockholm, Sweden, is an independent oil and gas E&P company with assets in Europe, Africa, Russia and the Far East. The company is listed on the OMX Nordic Exchange in Stockholm.

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