Lundin Petroleum Awarded Seven New Licences in Norwegian Licensing Round

Lundin Petroleum AB ("Lundin Petroleum") is pleased to announce that its wholly owned subsidiary Lundin Norway AS has been awarded seven new exploration licence interests in the 2009 Norwegian Licensing Round, Awards in Predefined Areas (APA). These include four licences which will be operated by Lundin Petroleum. The licence interests are detailed below.

Licence Interest

PL544 (Block 16/4)*: 70%
PL546 (Block 25/11,12)*: 60%
PL547 (Block 25/7): 30%
PL505 (Block 25/7): 30%
PL340 (Block 24/9): 15%
PL555 (Block 33/2)*: 60%
PL563 (Block 7119/6, 7120/4)*: 40%

*operator Lundin Petroleum

Ashley Heppenstall, President and CEO of Lundin Petroleum comments: "We are very pleased with this latest licencing round. The awarded licences complement our existing Norwegian licence interests which together will ensure continued exploration activity for us in Norway."

Posted 20/01/2010

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