Lundin spuds Torphins well

Lundin Petroleum AB (Lundin Petroleum), a Swedish independent oil and gas exploration and production company with a well balanced portfolio of world-class assets in Europe, Africa, Russia and the Far East, announces that drilling of the exploration well 21/8-4 on the Torphins prospect located in block 21/8, production licence P1107, in the central North Sea sector of the United Kingdom Continental Shelf (UKCS), has commenced.

Well 21/8-4 is targeting the Palaeocene sandstone reservoir. The Torphins prospect is defined by a 3D seismic anomaly. The estimated unrisked gross potential is approximately 30 million barrels of oil equivalent (mmboe).

Lundin Petroleum has contracted the Transocean’s GSF Arctic II semi-submersible rig to drill this prospect. Drilling is expected to take up to 75 days. Well 21/8-4 is located 12km north of the Lundin operated Scolty discovery drilled in late 2007 and is targeting a similar amplitude anomaly.

Lundin Petroleum is the operator with 40 percent interest. Partners are Challenger Minerals (North Sea) Limited and Revus Energy (E&P) Limited.