Explora Buys Stake in Lundin’s North Sea License (Norway)

Lundin Petroleum AB has entered into a farmout agreement with Explora Petroleum AS (Explora Petroleum) in respect of licence PL544.

Explora Petroleum will acquire a 30 percent interest in PL544, the license is located in the Norwegian sector of the North Sea.

The farmout agreement is subject to approval by Norwegian authorities.

Lundin Petroleum is the operator of PL544 and will have 40 percent working interest in PL544 after the farmout to Explora Petroleum.

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Press Release, July 6, 2012