15 licences awarded in the Norwegian licensing round

Lundin Petroleum AB (Lundin Petroleum) is pleased to announce that its wholly owned subsidiary Lundin Norway AS (Lundin Norway) has been awarded a total of 15 exploration licence interests in the 2018 Norwegian licensing round (Awards in Predefined Areas, APA). The record-high award includes 8...

Lundin Petroleum AB (Lundin Petroleum) is pleased to announce that its wholly owned subsidiary Lundin Norway AS (Lundin Norway) has been awarded a total of 15 exploration licence interests in the 2018 Norwegian licensing round (Awards in Predefined Areas, APA).

The record-high award includes 8 licences in the North Sea, 2 licences in the Norwegian Sea and 5 licences in the southern Barents Sea. 9 of the awarded licences will be operated by Lundin Norway.

The awards from this licensing round builds on the Company's existing six core areas and will support starting to build a new position in the Norwegian North Sea close to the Horda platform area.

The licence interests are detailed below and maps of their location are provided on the following page.

Licence	Block	Lundin Norway licence interest	Licence Area
PL338E*1	16/4	50%	North Sea
PL338FS*1	16/1	65%	North Sea
PL976*	17/4,5,6,7,8,9	50%	North Sea
PL981*	16/4	60%	North Sea
PL987	30/7,8,10,11	20%	North Sea
PL988*	30/5	40%	North Sea
PL989	36/7	30%	North Sea
PL991	34/7, 8	40%	North Sea
PL998	6306/7, 8	30%	Norwegian Sea
PL1011	6509/11, 12; 6510/10	40%	Norwegian Sea
PL1023	7123/6; 7124/1,2,4,5	50%	Southern Barents Sea
PL767B*1	7120/3; 7121/1,2,3; 7122/1	50%	Southern Barents Sea
PL902B*1	7120/1,2	40%	Southern Barents Sea
PL1027*	7220/3; 7221/1,2,4,5	40%	Southern Barents Sea
PL1029*	7221/3; 7222/1,2,3; 7321/12; 7322/10,11,12	40%	Southern Barents Sea
*operator Lundin Norway 1 Geographical extension of existing licence

Lundin Petroleum is one of Europe's leading independent oil and gas exploration and production companies with operations focused on Norway and listed on NASDAQ Stockholm (ticker "LUPE"). Read more about Lundin Petroleum's business and operations at www.lundin-petroleum.com

For further information, please contact:

Edward Westropp VP Investor Relations Tel: +41 22 595 10 14 [email protected]

Sofia Antunes Investor Relations Officer Tel: +41 795 23 60 75 [email protected]

Robert Eriksson Manager, Media Communications Tel: +46 701 11 26 15 [email protected]

 

Forward-Looking Statements

Certain statements made and information contained herein constitute "forward-looking information" (within the meaning of applicable securities legislation). Such statements and information (together, "forward-looking statements") relate to future events, including the Company's future performance, business prospects or opportunities. Forward-looking statements include, but are not limited to, statements with respect to estimates of reserves and/or resources, future production levels, future capital expenditures and their allocation to exploration and development activities, future drilling and other exploration and development activities. Ultimate recovery of reserves or resources are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management.

All statements other than statements of historical fact may be forward-looking statements. Statements concerning proven and probable reserves and resource estimates may also be deemed to constitute forward-looking statements and reflect conclusions that are based on certain assumptions that the reserves and resources can be economically exploited. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "may", "will", "project", "predict", "potential", "targeting", "intend", "could", "might", "should", "believe" and similar expressions) are not statements of historical fact and may be "forward-looking statements". Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. No assurance can be given that these expectations and assumptions will prove to be correct and such forward-looking statements should not be relied upon.  These statements speak only as on the date of the information and the Company does not intend, and does not assume any obligation, to update these forward-looking statements, except as required by applicable laws. These forward-looking statements involve risks and uncertainties relating to, among other things, operational risks (including exploration and development risks), productions costs, availability of drilling equipment, reliance on key personnel, reserve estimates, health, safety and environmental issues, legal risks and regulatory changes, competition, geopolitical risk, and financial risks. These risks and uncertainties are described in more detail under the heading “Risks and Risk Management” and elsewhere in the Company's annual report. Readers are cautioned that the foregoing list of risk factors should not be construed as exhaustive. Actual results may differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements are expressly qualified by this cautionary statement.

 

LicenceBlock Lundin Norway
licence interestLicence AreaPL338E*¹16/450%North SeaPL338FS*¹16/165%North SeaPL976*17/4,5,6,7,8,950%North SeaPL981*16/460%North SeaPL98730/7,8,10,1120%North SeaPL988*30/540%North SeaPL98936/730%North SeaPL991 34/7, 840%North SeaPL9986306/7, 830%Norwegian SeaPL10116509/11, 12; 6510/1040%Norwegian SeaPL10237123/6; 7124/1,2,4,550%Southern Barents SeaPL767B*¹7120/3; 7121/1,2,3; 7122/150%Southern Barents SeaPL902B*¹7120/1,240%Southern Barents SeaPL1027*7220/3; 7221/1,2,4,540%Southern Barents SeaPL1029*7221/3; 7222/1,2,3; 7321/12; 7322/10,11,1240%Southern Barents Sea*operator Lundin Norway
¹ Geographical extension of existing licence 

Attachment

• Lundin Petroleum - APA 2018 awards - V5 - 20180115en