21 October 2011
ALDOUS APPRAISAL WELL RESULTS IN DOUBLING OF RESOURCE ESTIMATES
Lundin Petroleum AB ( Lundin Petroleum ) is pleased to announce that following the drilling of appraisal well 16/2-10 located in the Norwegian North Sea the operator of PL265, Statoil ASA, has announced a material increase to the resource estimates for the Aldous Major South discovery. The Aldous Major South and Avaldsnes discoveries located in PL501 are one large connected discovery.
The gross contingent recoverable resources of the Aldous Major South discovery located in PL265 have following analysis of the data from the appraisal well increased from a range of 400 to 800 million barrels of oil to 900 million to 1.5 billion barrels of oil. The gross oil column in the appraisal well is approximately 60 metres with high net to gross and excellent reservoir characteristics.
Lundin Petroleum has previously announced a range of gross recoverable contingent resources for the Avladsnes discovery located in PL501 of between 800 and 1800 million barrels of oil. The Avaldsnes/Aldous Major South discovery is therefore now estimated to contain gross recoverable contingent resources of 1.7 to 3.3 billion barrels which is one of the largest discoveries on the Norwegian Continental Shelf.
Lundin Petroleum is a partner with a 10 percent interest in PL265. Statoil ASA is the operator with 40 percent, Petoro has 30 percent and Det Norske oljeselskap ASA has 20 percent interest.
Lundin Petroleum is the operator of PL501 with a 40 percent interest. Partners are Statoil Petroleum AS with a 40 percent interest and Maersk Oil Norway AS with 20 percent interest.
Lundin Petroleum is a Swedish independent oil and gas exploration and production company with a well balanced portfolio of world-class assets primarily located in Europe and South East Asia. The Company is listed at the NASDAQ OMX, Stockholm (ticker "LUPE") and at the Toronto Stock Exchange (TSX) (Ticker "LUP"). Lundin Petroleum has proven and probable reserves of 187 million barrels of oil equivalent (MMboe).
http://www.lundin-petroleum.com/Press/pr_norway_21-10-11_e.html
http://www.lundin-petroleum.com/eng/index.php
21/10 2011 12:52 fcras 0
47501 Statoil ASA (OSE: STL, NYSE: STO) har sammen med partnerne Petoro AS, Det norske oljeselskap ASA og Lundin Norway AS påvist betydelige tilleggsvolumer i avgrensningsbrønnen på Aldous Major Sør-funnet (PL265) i Nordsjøen.
http://www.statoil.com/no/NewsAndMedia/News/2011/Pages/21Oct_AldousIncrease.aspx
http://www.petoro.no/
http://www.lundin-petroleum.com/eng/index.php
http://www.detnor.no/
http://www.statoil.com/no/NewsAndMedia/News/2011/Pages/21Oct_AldousIncrease.aspx
http://www.petoro.no/
http://www.lundin-petroleum.com/eng/index.php
http://www.detnor.no/
