Lundin Petroleum AB through its wholly owned subsidiary Lundin Norway AS (Lundin Norway) says that the testing of the previously announced Luno II discovery has been successfully completed.

The discovery is located in PL359 in the central North Sea sector of the Norwegian Continental Shelf (NCS) on the south western flank of the Utsira High approximately 15 km south of the Lundin Petroleum operated Edvard Grieg field.

The exploration well 16/4-6S on the Luno II prospect has been production tested and flowed at over 2,000 bopd through a 48/64 inch choke with a gas to oil ratio of 1100 scf/bbl. Lundin Petroleum estimates that the Luno II structure which is believed to span across two separate reservoir segments contains gross contingent resources of 25 - 120 million barrels of oil equivalents (MMboe) as well as gross prospective resources of 10 - 40 MMboe for the Luno II North segment. In addition there are prospective resources outside the two mentioned areas.

Tags: Lundin Petroleum