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	9/6/2011 - LUNDIN’S SECOND AVALDSNES APPRAISAL CONFIRMS FIELD EXTENSION
Lundin Petroleum advises that the second Avaldsnes appraisal well, 16/2-7, has confirmed the extension of the Avaldsnes field approximately 5.5 km south of the 16/2-6 discovery well and 4.5 km southwest of the first appraisal well 16/3-4. The Avaldsnes field is located in license PL501 on the Norwegian Continental Shelf and is in communication with the recently announced Aldous Major South discovery in PL265 to the west. The second Avaldsnes appraisal well encountered a gross reservoir column of excellent quality Upper Jurassic age sandstone of approximately 35 meters of which seven meters was above the oil water contact. A comprehensive coring and logging program has been performed which has confirmed excellent quality reservoir characteristics. The appraisal well will now be sidetracked to obtain further reservoir information. The sidetrack will be completed by mid-September. The well was drilled to a total depth of 2,500 meters MD and in a water depth of 371 FSW (113 MSW). Lundin Petroleum is using the semisubmersible BREDFORD DOLPHIN to drill the well. Lundin Norway AS is the operator of PL501 with a 40% interest. Partners are Statoil Petroleum AS with 40% interest and Maersk Oil Norway with 20% interest.

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