Lundin Petroleum Kicks Off Malaysian Drilling Campaign

Lundin Petroleum AB (Lundin Petroleum)  has spudded the Tembakau-2 appraisal well in Block PM307, offshore Malaysia.

The well will target stacked gas reservoirs in Miocene aged sands in a large, low-relief, structure discovered by Lundin Petroleum’s Tembakau-1 in late 2012. The discovery well penetrated 60 metres of net gas sands in five high quality sand intervals between 800 metres and 1,250 metres subsea. The appraisal well will core the main reservoir section and is expected to confirm the extent and quality of the gas reservoirs 3.7 kilometres to the
south of Tembakau-1.Deliverability will be measured through production testing.

The objective of the well is to confirm the current gross contingent resource estimate of gas as well as to test upside resource potential within the structure and to provide reservoir information for development planning.
Tembakau-2 is a vertical well to be drilled by the jackup rig West Prospero to a depth of 1,400 metres in approximately 70 metres water depth. The drilling of the well, including testing, is expected to take approximately 60 days.

Lundin Petroleum holds a 75 percent interest in PM307 through its subsidiary Lundin Malaysia BV. Lundin Malaysia BV’s partner is PETRONAS Carigali Sdn. Bhd. with 25 percent interest. Lundin Malaysia BV operates
seven blocks in Malaysia, namely PM307, PM308A, PM308B, PM319, SB303and SB307/308.

Press Release, June 19, 2014