Dry Well Offshore Congo, Lundin Petroleum Says

The exploration well Mindou Marine-1, located offshore in Block Marine XI Congo (Brazzaville), has reached total depth at 3,515 metres. The well did not encounter oil shows in the target pre-salt section. The well will now be logged, and a full geological interpretation of the results will be undertaken.

This well fulfilled the Phase II drilling commitment on the licence and is the first of a two to three well programme on Blocks Marine XI and XIV.

Lundin Petroleum has an 18.75 percent working interest in the licence which is operated by SOCO International.

Lundin Petroleum is a Swedish independent oil and gas exploration and production company with a well balanced portfolio of world-class assets primarily located in Europe and South East Asia. The Company is listed at the NASDAQ OMX, Stockholm (ticker “LUPE”) and at the Toronto Stock Exchange (TSX) (Ticker “LUP”). Lundin Petroleum has proven and probable reserves of 187 million barrels of oil equivalent (MMboe).

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Source:Lundin Petroleum , November 1, 2011