Stockholm, 2018-01-16 16:16 CET (GLOBE NEWSWIRE) --
Lundin Petroleum AB (Lundin Petroleum) is pleased to announce that its wholly owned subsidiary Lundin Norway AS (Lundin Norway) has been awarded a total of 14 exploration licence interests in the 2017 Norwegian licensing round (Awards in Predefined Areas, APA).
The record-high award includes six licences in the North Sea, four licences in the Norwegian Sea and four licences in the southern Barents Sea. Six of the awarded licences will be operated by Lundin Norway.
The licence interests are detailed below and a map is included in the attachment.
| Licence | Lundin Norway licence interest |
|
PL904 (Blocks 2/9, 3/7): PL167C (Block 16/1): PL914S (Ivar Aasen unit)(Block 16/1): PL916 (Blocks 16/2, 25/11): PL917 (Blocks 25/7, 10): PL919 (Block 25/4): PL934 (Blocks 6307/2, 5)*: PL935 (Block 6306/3): PL936 (Blocks 6306/2, 5): PL886B (Blocks 6307/1, 4)*: PL950 (Blocks 7020/1, 2, 7120/11)*: PL952 (Blocks 7124/5,6,8,9, 7125/4,5,6,7)*: PL954 (Blocks 7121/1,2,3, 7221/10, 11)*: PL533B (Block 7219/11)*: |
20% - North Sea 20% - North Sea 1.385% - North Sea 20% - North Sea 20% - North Sea 15% - North Sea 40% - Norwegian Sea 20% - Norwegian Sea 30% - Norwegian Sea 40% - Norwegian Sea 50% - Southern Barents Sea 60% - Southern Barents Sea 40% - Southern Barents Sea 35% - Southern Barents Sea |
*operator Lundin Norway
Lundin Petroleum is one of Europe's leading independent oil and gas exploration and production companies with operations focused on Norway and listed on NASDAQ Stockholm (ticker "LUPE"). Read more about Lundin Petroleum's business and operations at www.lundin-petroleum.com.
For further information, please contact:
|
Alex Budden VP Communications & Investor Relations Tel: +41 22 595 10 19 alex.budden@lundin.ch |
Sofia Antunes Investor Relations Officer Tel: +41 795 23 60 75 sofia.antunes@lundin.ch |
Robert Eriksson Manager, Media Communications Tel: +46 701 11 26 15 robert.eriksson@lundin-petroleum.se |
Forward-Looking Statements
Certain statements made and information contained herein constitute "forward-looking information" (within the meaning of applicable securities legislation). Such statements and information (together, "forward-looking statements") relate to future events, including the Company's future performance, business prospects or opportunities. Forward-looking statements include, but are not limited to, statements with respect to estimates of reserves and/or resources, future production levels, future capital expenditures and their allocation to exploration and development activities, future drilling and other exploration and development activities. Ultimate recovery of reserves or resources are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management.
All statements other than statements of historical fact may be forward-looking statements. Statements concerning proven and probable reserves and resource estimates may also be deemed to constitute forward-looking statements and reflect conclusions that are based on certain assumptions that the reserves and resources can be economically exploited. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "may", "will", "project", "predict", "potential", "targeting", "intend", "could", "might", "should", "believe" and similar expressions) are not statements of historical fact and may be "forward-looking statements". Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. No assurance can be given that these expectations and assumptions will prove to be correct and such forward-looking statements should not be relied upon. These statements speak only as on the date of the information and the Company does not intend, and does not assume any obligation, to update these forward-looking statements, except as required by applicable laws. These forward-looking statements involve risks and uncertainties relating to, among other things, operational risks (including exploration and development risks), productions costs, availability of drilling equipment, reliance on key personnel, reserve estimates, health, safety and environmental issues, legal risks and regulatory changes, competition, geopolitical risk, and financial risks. These risks and uncertainties are described in more detail under the heading "Risks and Risk Management" and elsewhere in the Company's annual report. Readers are cautioned that the foregoing list of risk factors should not be construed as exhaustive. Actual results may differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements are expressly qualified by this cautionary statement.
