Lundin Petroleum through its wholly owned subsidiary Lundin Norway AS (Lundin Norway) is pleased to announce that the Johan Sverdrup appraisal well 16/5-4, located in the south western part of PL501, found an oil column of approximately 6 metres in excellent quality sandstone of Upper Jurassic age. The well is successfully completed.

Appraisal well 16/5-4 is located at the south-western flank of the Johan Sverdrup discovery. It was drilled approximately 4 kilometres south-west of appraisal well 16/5-2S and approximately 3 kilometres south-east of well 16/5-3 (PL502). The well found an oil-filled 6 metres gross reservoir section of excellent quality sand with very high net to gross ratio. The top of the reservoir was found according to prognosis and 16 metres above the probable oil water contact of 1,922 metres (Mean Sea Level). The reservoir sequence is entirely of late Jurassic age resting on Triassic sediments. No oil water contact was established.

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