-
North Sea Exploration & Undeveloped DiscoveriesOslo, 11
December 2007WF9917
North Sea Contingent Resources
88
-
WF9434 11.07
027 028 029
020 021 022
013 014 015
007 008
002
006
003
009
001
030
00090008
001800170016
0026
0025
0027
00310030
0002
0007
016
0032
0003
A
5604
5504
0015
0001
023
0024
5603
5503
031
BergenSullom Voe
UNITED KINGDOM
NORWAY
0 100KM
OperatedNon Operated
PL148
PL338
PL203002400240024
PL340
PL292P1107
PL006c
Peik
9/10b
UK / Norwegian Undeveloped DiscoveriesPL006c:South East Tor
75% interest (operator)gross resources: 22.5 mmboeappraisal
drilling in 2008
PL148 7/7-2:Nemo
50% interest (operator)gross resources: 20.6 mmboeappraisal
drilling in Q4 2007
PL292:Pi South
40% interestgross resources: 10.9 mmboeappraisal drilling in Q4
2007
PL340 15% interestgross resources: 11.0 mmboedrilling in
2008
PL338Luno
50% interest (operator)gross resources: 65-190 mmboeappraisal
drilling in 2008
Peik (UK/NCS) 40% interestgross resources: 27.4 mmboe
P1107:Scolty
40% interest (operator)gross resources: ~10 mmboedrilling
amplitude anomaly prospect (Torphins) in 2008
PL203Gekko/Kobra
15% interestgross resources: ~36.6 mmboe
PL090 (9/10b)9/10b discovery
85% interestgross resources: ~11.9 mmboe
Net Contingent Resources: 123.7MMBOE
89
-
WF9912 11.07
Alvheim Area - Peik
Lundin Petroleum interest: Norway 50%, UK 33.3% (Operator) UK:
Bow Valley 66.7% Norway: Marathon 50%
Information
Cross border field: 53% UK – 47% NorwayDiscovery well 24/6-1
drilled in 1985discoverd gas/condensate in MiddleJurassic Hugin
Fm
Contingent Resources
Acquired : 2007
Field MMBOE
Peik
Peik Additional Upside
9\10b discovery
27.4
14.3
11.9
98
3
00090000000025
0024
0026
PL304
PL150
PL103B
PL363
PL412
PL413
PL340
PL203
PL036cPL088
P090 (9/15a)
Jotun field
Alvheim field
Peik discovery
Lundin Petroleum OperatorLundin Petroleum Partner
UKUKUKUKUK
NorwayNorwayNorwayNorwayNorwayNorwayNorway
9/10b discovery
90
-
WF9912 11.07
Deep HTHP reservoirNo further appraisal drilling
requiredProduction start-up 2011Planned subsea installation tied
backto a nearby platformDevelopment decision in 2008PDO submission
planned in 2009
Forward Plan
Peik Discovery
Alvheim Area - Peik
P090 9/15a
PL088
UK
Norway
91
-
WF9914 11.07
Alvheim Area - PL203
Lundin Petroleum interest: 15% Marathon 68% (Operator)
ConocoPhillips 20%
Information
Gekko Discovery well 25/4-3 (1974)found oil and gas in the
PaleoceneHeimdal FmKobra Discovery well 25/7-5 (1997)found oil in
two Paleocene intervals.
Contingent Resources
Acquired : 2005
Field MMBOE
Gekko
Kobra
34.6
2.0
98
3
00090000000025
0024
0026
PL304
PL150PL103B
PL363
PL412
PL413
PL340
PL203
PL036c
PL088P090
Jotun field
Alvheim field
Lundin Petroleum OperatorLundin Petroleum Partner
UKUKUKUKUK
NorwayNorwayNorwayNorwayNorwayNorwayNorwayNorway
92
-
WF9914 11.07
Forward Plan Gekko needs further appraisal drilling
Alvheim Area - PL203 - Gekko / Kobra
0 6KM
Norw
ayU.K
.
Kameleon
BoaPeik
Heimdal
Hamsun Grieg
discovery
EastKameleon
Kneler
Kameleon
BoaPeik
PL088
ALVHEIM
PL036c
PL413
PL363
PL150
Jotun Unit &PL103B
Heimdal
Hamsun Grieg
discovery
EastKameleon
Kneler
Kobra
Gekko
PL203
24/6-1
24/6-2
24/6-4T2
25/4-3
25/4-5
25/4-7
25/4-8
25/7-5
25/7-624/9-5
24/9-6
24/9-724/9-7C
UK9/15b-4
UK9/15b-4z
0025
000024
009
4b
4c
7b
7d
9a
4a
6b
9c
9b
6aUP
4h
4gUP
19
6aLW
7a
15b
15aUP
10c
9e
4e
15aLW
4gLW
10bE
15aF1
10bW
15c
14c
4fUP
9e
4fLW
14aLW
14aUP
VILJE
HEIMDAL
VALE
009/10 (Area 1)
8
5
4
3
1
4
43
2
1
5
3
1
3Z
2A
0025Nth Gekko
Sth Gekko
PL203
PL413
PL036c
PL150
PL340
PL088PL088BS
2°0'0"E
7a0 4KM
Boa Kameleon
Kneler
Volund
Kobra
PEIK
93
-
WF9915 11.07
Southern North Sea - PL006C
Lundin Petroleum interest: 75% (Operator) Noreco 25%
Info
Discovery well 2/5-3 (1972) found lightoil in two formationsEach
formation tested rates in excessof 4,300 bbl/d
Contingent Resources
DNO Acquisition
Discovery MMBOE
22.5
5.6030
00000022
0008 00099
000000000333
0007
000116
13
89879
9
6
12
1110
12
7
4a
8b
3a
6a
9b
1
7b
7a
5b
2b
4a
4
12b
5 5 6 4
3a
8
1b
7b
11c
8
11a
4
10b
3b
21
5c
21
10
16
2a
5b1315
2UP
25
10
2b
26
2LW
5a
30
28a
7a
25a
32
10b
8c
10a
24b
27c
7b
23a24a
7a
19b
6b
23b
9a
28b
11c
30
27b
5c
30
19a
21
20b
17b
15
16
25
4b
7b
5e
8aUP
18W
11b
26c
5b
30a
29b
20c
4c
28N32a31a
1c1aF1
6LW
30b
12a
11a
20a
5b
5bLW
17a
7d
20a
2b
26c
9a
29
14
1g
23a
31a
4b
27c
12b
7a
20b
16f
5a
4d
4LW
20a
29c
27a
1d
10a
0 40KMPL148
PL335
PL400
PL440sPL398s
Lundin Petroleum OperatorLundin Petroleum Partner
UKUKUKUKUKUKUKUKUK
DENMARKDENMARKDENMARKDENMARKDENMARKDENMARKDENMARKDENMARKDENMARKDENMARKDENMARKDENMARKDENMARKDENMARKDENMARKDENMARKDENMARKDENMARKDENMARKDENMARKDENMARKDENMARKDENMARKDENMARKDENMARKDENMARK28bDENMARK28b
26cDENMARK26c
NorwayNorwayNorwayNorwayNorwayNorway11cNorway11c
6a
4a4a4aPL006c
SE Tor
SE Tor additional upside
94
-
WF9915 11.07
Possible tie in points for South East Tor arethe Tor field, the
Ekofisk field (and the Valhall field)
Licence plan to drill well with side track(exploration and
appraisal targets) in order toprove most likely reserves and
potential upside
Contract with Mærsk Gallant
Expected start drilling: December 2008
Forward Plan
Southern North Sea - PL006C - SE Tor
PL398 SPL440S
PL006c0002
5603
0001
030
031
6
9
8a7a
5b
4a
3
10
6a
1b
8c
3a2LW
25a
30
5c
30
4b
7c
31a
4e
7d
5f
9c
1a
27c
5a
4d
21b
9b
11d
11c
11b
28b
2UP
4c
11a
9a
26b32a
6aF1
27b
26bF1
12
28a
28c
1aF1
7e
26
27a
7b
27b26f
20b
26g
32b
31b
24
21a
20a
26c
TOMMELITEN ALPHA
TOMMELITEN GAMMA
TJALVE
0002/07 (Area 22)
0002/02 (Area 1)
VALHALL
0002/05 (Area 11)
HOD
EKOFISK PHILLIPS0002/05 (Area 4)
GYDA 0002/02 (Area 5)
FREJA
0002/06 (Area 5)
FLORA
0002/07 (Area 19)
ANGUS
EKOFISK NON PHILLIPS
FREJA
0002/04 (Area 10)
0002/07 (Area 29)
0002/01 (Area 11)
031/26 (Area 8)
0 5 102.5
Kilometers
5bEKOFISK NON PHILLIPSSouth East Tor
Target 2
Target 1
New well
9km
15km
30km
9km
15km
30kmExisting wells
95
-
WF9920 11.07
Southern North Sea - PL148
Lundin Petroleum interest: 50% (Operator) Noreco 20 %, Talisman
30%
Information
First oil in 2010 at 7,700 boepd net
Contingent Resources
DNO acquisition
Field MMBOE
Nemo
Nemo additional upside
20.6
12.4
98
3
030
00000022
0008 00099
000000000333
0007
000116
13
89879
9
6
12
1110
12
7
4a
8b
3a
6a
9b
1
7b
7a
5b
2b
4a
4
12b
5 5 6 4
3a
8
1b
7b
11c
8
11a
4
10b
3b
21
5c
21
10
16
2a
5b1315
2UP
25
10
2b
26
2LW
5a
30
28a
7a
25a
32
10b
8c
10a
24b
27c
7b
23a24a
7a
19b
6b
23b
9a
28b
11c
30
27b
5c
30
19a
21
20b
17b
15
16
25
4b
7b
5e
8aUP
18W
11b
26c
5b
30a
29b
20c
4c
28N32a31a
1c1aF1
6LW
30b
12a
11a
20a
5b
5bLW
17a
7d
20a
2b
26c
9a
29
14
1g
23a
31a
4b
27c
12b
7a
20b
16f
5a
4d
4LW
20a
29c
27a
1d
10a
0 40KM
PL148PL335
PL400
PL398sPL440s
PL006C
4 6LW5bLW 4LW
Lundin Petroleum OperatorLundin Petroleum Partner
UKUKUKUKUKUKUKUKUK
DENMARKDENMARKDENMARKDENMARKDENMARKDENMARKDENMARKDENMARKDENMARKDENMARKDENMARKDENMARKDENMARKDENMARKDENMARKDENMARKDENMARKDENMARKDENMARKDENMARKDENMARK28a
DENMARK28a27c
DENMARK27c
26cDENMARK26c
NorwayNorwayNorwayNorwayNorwayNorway11cNorway11c
Nemo discovery
96
-
WF9920 11.07
Southern North Sea - PL148 - Nemo
PL148 - Nemo Net Production to LundinNet Production (mbopd)
0123456789
2007
2009
2011
2013
2015
2017
2019
2021
2023
2025
2027
2029
2031
(mbo
pd)
Gas ProductionOil Production
7/7-2 Statoil 1992, oil down to DST 5000 bbl/d, 36 API, Pressure
626 bar @3310 m SS
7/7-3 Statoil 1993, only shows (water up to)
Contingent resources 20.6 MMboe with additional upside
Upside volumes 12.4 MMboe
Potential optimizationsArea synergies, reuse appraisal well,
phased development
Planned appraisal well position to prove up significant upside:
OWC, reservoir thickness/quality
Mærsk Giant rig is secured for drilling in December 2007
Nemo Discovery
-3500
-3525-3500
-3800-3750-3700-3650-3600-3550-3500-3450-3400-3350-3300
Depth
0 500 1000 1500 2000 2500m
1:63457
-
ODT -3323
PL148
TOP GYDA RESERVOIR MAP
Trias
sic Po
d
P1
I1
7/7 2
7/7-3
97
-
WF9918 11.07
Heather Area - SW Heather
Lundin Petroleum interest: 55% (Operator) Palace (Revus) 29%,
Challenger 8%, Dyas 8%
Info
Discovery well 2/5-3 (1972) found lightoil in two formationsEach
formation tested rates in excessof 4,300 bbl/d
Contingent Resources
DNO Acquisition
Discovery MMBOE
12.0SW Heather
0002003
0034
211
0030
209
219 6202
0001
66666220011
0033
218
220
8798 9
12 10 1111
5b
7
7b
12
2b
6 7 8 9
5 1 2
9 6 7 8 9 6
4 5 1 2 43 5 1 2
54
7a
3c
9b
1b
9
8d
4c
4d
2
6c
8a
10a
3a
6a
12a
20 16 17 18 19 20 1816 17
1511
12 13 14
10
30 26 2827
25 21 22 23
1920 16 17 18
17
14 15 11 12 13 14
10
8c
10
24
29 26 27 28 29 30
26
2423 24 25
4b
2b
25
5bLW
29
6b
21
21
4b
1c
22
11a
23
9c
24
5
25
7c
21
6d
22
3b
6b
8b
7b
3
1513b14
5
3a
6d
2019
1b
9a
9a
4a
11b
28b
18
19
30b
27
8b
17
2a
29b
16
24c
9aUP
23
15b
3c
8
3b
9a
20
11c
16b
12b
8c
12a
19
3a
13a
6a
25b
24
28
1b
2f
15b
9c
12d
14a
10a
8d
19a
2a
11a
10
25b
1a
24a
20e
23a
7e
9d
19a
3
1c
20a
30a
3aUP
25a21a
22a
10b
11b
30b
1d
25b 21b
23d
22b
3aS
27a
1618
20a
6b
2eUP
20c
4a
2eLW
10b
14
1aUP
19b
8a
3aLW
7a
1aLW
4d
9b
24b
9b
15a
12c
29b
2F1
29F1
9c10c
24c
6eUP
4f
21b
10a
9b
24c21a
6d
2aLW
25a
3bLW
8a
1c
11a
10d
27d
7aS
13
12a
9c
22b
12b
7a
11b
4a
6b
23b
26a
22aNW
3c
19c
11c
19aS
15a
8a 6fUP
30b
5a
16a
12f
26aF1
6eLW
22aSE
8b
21aF1
29a
18c
26d
3cUP
19aN
8b
2g
6a14f
4e
30a
12a
12bLW
27e
13b
3cLW
7d
6a
3b
7b
5F1
4b
4aF3
1a
22
12b
6c8aF4
18a
19b
8d
26b
4aF1
VISUND
KVITEBJOERN
0030/06 (Area 16)
JURA
ELLON
STUJ
NINIAN
SNORRE
OSEBERG
LYELL
GULLFAKS
MAGNUS
VIGDIS
TERN
HUTTON
DUNLIN
DUNBARCHEVIOT
TORDIS
SENTRAL
GIMLEMELVILLE
TUNEHILD
VALEMON
UKUK13UK13 14UK14
NorwayNorwayNorwayNorway12Norway12 10Norway10 11Norway11
8 90 20KM
12d
GULLFAKSGULLFAKS
4a
4aF3
21102 1
18 16b19a019a0 20a
0002
10b
26 282729b
Heather/Broom5 1 2 4b3b
3aSW Heather
P1384
P1275
Thistle/Deveron
2b 3b3cP1487
P1406
98
-
WF9918 11.07
Heather Area - SW Heather
9
5
2
29 30
6b
4b
15b 12b
1b
10a
1a
7e
27aaa
10b
2F2F2F111
1cc
27d
7aS
1212a11b
26c
2626262626262626a
11c15a
26aF26aF26aF26aF26aF26aF26aF26aF26aF26aF26aF26aF1111
26d
27e
4a
7aF7aF7aF1
7d
6a
27bbb
5F1
7c
7aN
2F2F2F2F2F2F2F2F2F2F2222222222
27cc
7b
LYELL
HUTTON
CHEVIOT
PELICAN
CORMORAN
BROOM
HEATHERSOUTH WEST
003/12 (Area 2)
002/10 (Area 1)
140 KM 10
Heather
SW Heather
Holly
00003737e3e002002
210 211211211211211211211211211
11b
Beta
Delta & Gamma
Alpha
00
99
-
North Sea Exploration & Undeveloped DiscoveriesOslo, 11
December 2007WF9917
Conclusion
100
-
WF9885 11.07 Lundin Petroleum non-operated assetsLundin
Petroleum operated assets
Alvheim area
Barents Sea area
UK Central North Sea area
UK Heather area
Luno area
SouthernNorth Sea area
License Prospect Equity %
Gross unrisked resources(mmboe) CoS %
PL359 Lemond 70 198 20PL438 Lavvo 35 159 14
PL363 Mon 60 123 25PL304 Aegis 60 104 19PL440s Helena* 18 102
20PL409 D 100 94 17PL304 Buhund 60 87 19PL412 Hugin south 30 86
18PL359 Armstrong 70 122 30PL359 Merckx 70 76 18PL438 Skalle 35 75
35
PL203 Alvheim Deep 15 158 18
PL400 Blizzard 50 59 11PL440s Clapton* 18 56 20PL167 Verdiandi
Oil 20 53 20PL409 A 100 50 13PL363 Monster 60 50 25PL150 Ibsen 35
47 12PL340 Padde 15 42 14PL412 Hugin West 30 36 25PL340 Marihøne 15
39 36PL412 Ty North 30 33 17PL203 S Kneler 15 30 50PL412 Hugin
North 30 19 25PL412 Hugin Central 30 19 81
PL203 E Kneler 15 2 50PL340 Frosk 15 6 63PL292 Pi North 40 9
29
* Helena and Clapton in PL 440s is mutually exculsive
Norwegian Continental Shelf - Prospective Resources
Net Prospective ResourcesUnrisked: 900MMBOE , Risked:
195MMBOE
101
-
WF9885 11.07 Lundin Petroleum non-operated assetsLundin
Petroleum operated assets
Alvheim area
Barents Sea area
UK Central North Sea area
UK Heather area
Luno area
SouthernNorth Sea area
License Prospect Equity %
Gross unrisked resources(mmboe) CoS %
Ridgewood
Delgany
9/9-A
Gamma-Delta
Torphins
9/9-B
Nairn
Belfry
Southerndown
Wenvoe
Carne
Cruit
P1301
P1399
P1410
P1406
P1107/P1109
P1410
P1397
P1107/P1109
P1399
P1399
P1399
P1399
30%
15%
60%
100%
40%
60%
15%
40%
40%
15%
15%
15%
41
74
143
45
28
31
29
16
28
17
12
7
25%
20%
18%
25%
60%
14%
50%
15%
20%
20%
20%
20%
UK Continental Shelf - Prospective Resources
Net Prospective ResourcesUnrisked: 211MMBOE , Risked:
48MMBOE
102
-
WF9434 11.07
027 028 029
020 021 022
013 014 015
007 008
002
006
003
009
001
030
00090008
001800170016
0026
0025
0027
00310030
0002
0007
016
0032
0003
A
5604
5504
0015
0001
023
0024
5603
5503
031
BergenSullom Voe
UNITED KINGDOM
NORWAY
0 100KM
OperatedNon Operated
PL148
PL338
PL203002400240024
PL340
PL292P1107
PL006c
Peik
9/10b
UK / Norwegian Undeveloped DiscoveriesPL006c:South East Tor
75% interest (operator)gross resources: 22.5 mmboeappraisal
drilling in 2008
PL148 7/7-2:Nemo
50% interest (operator)gross resources: 20.6 mmboeappraisal
drilling in Q4 2007
PL292:Pi South
40% interestgross resources: 10.9 mmboeappraisal drilling in Q4
2007
PL340 15% interestgross resources: 11.0 mmboedrilling in
2008
PL338Luno
50% interest (operator)gross resources: 65-190 mmboeappraisal
drilling in 2008
Peik (UK/NCS) 40% interestgross resources: 27.4 mmboe
P1107:Scolty
40% interest (operator)gross resources: ~10 mmboedrilling
amplitude anomaly prospect (Torphins) in 2008
PL203Gekko/Kobra
15% interestgross resources: ~36.6 mmboe
PL090 (9/10b)9/10b discovery
85% interestgross resources: ~11.9 mmboe
Net Contingent Resources: 123.7MMBOE
103
-
WF9921 11.07
LicenceProspect/Discovery Equity
UnriskedGross mmboe Rig Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
2008
2007 2009 2010
Drilling Schedule 2008-2010
Exploration Well Appraisal Well
P1301 Ridgewood 30% 41 Galaxy II
PL292 Pi North 40% 9 Maersk Guardian
PL148 Nemo 50% 20.6 Maersk Giant
PL338 Luno 50% 60-190 Bredford Dolphin
PL338 Luno 50% 60-190
P1107 Torphins 40% 28 GSF Arctic II
PL340 Marihone A/B 15% 39 Bredford Dolphin
PL304 Aegis 60% 104
PL006c SE Tor 75% 22.5 Maersk Gallant
PL363 Mon 60% 123
Identified
PL412 Hugin South 30% 86 West Alpha
PL409 D 100% 94
PL359 Lemond 70% 198
PL400 Blizzard 50% 59 Jack-up
P1399 Delgany 15% 74
P1410 A 60% 143
P090/PL088 Peik 41% 27.4 Songa Dee
PL203 Alvheim Deep 15% 158 Songa Dee
PL203 South Kneler 15% 32 Songa Dee
PL150 Ibsen 35% 47 Songa Dee
PL438 Lavvo/Skalle 35% 159 Songa Dee
Songa Dee Rig secured for 1.5 years from end Q1 2009 to end
2011
104
