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25/10/2007 Press release 39/2007:Lundin Norway AS, operator of production licence 338 in the Norwegian North Sea, has finalized the drilling of exploration well 16/1-8. The well is located 28 kilometer east of the Gudrun Field.

The purpose of the well was to prove hydrocarbons in sediments of Jurassic age in a prospect called Luno.

The well proved light oil in coarse clastic sandstones of Jurassic age. The size of the discovery is currently estimated to 10-30 million Sm3 of recoverable oil. Additional delineation of the discovery is necessary.

The well is not production tested, however extensive data acquisition has been carried out and the well will be temporarily abandoned to allow for a future production test.

Exploration well 16/1-8 is the first well to be drilled in production licence 338. The licence was awarded in the APA 2004 concession round. The well was drilled to a total depth of 2175 meters below mean sea level in rocks of middle Triassic age.

Exploration well 16/1-8 was drilled by the semi-submersible drilling facility Bredford Dolphin at a water depth of 108 metres. Bredford Dolphin will proceed to production license 341 in the Norwegian North Sea to drill appraisal well 24/12-5 S operated by Det Norske Oljeselskap AS.

Licencees in production licence 338:

Lundin Norway AS (Operator) 50%
Revus Energy ASA 30%
RWE-DEA Norge AS 20%



Contact in the NPD:
Eldbjørg Vaage Melberg, tel.: +47 51 87 61 00

Updated: 12/01/2010