Solid results from latest Johan Sverdrup well offshore Norway

Offshore staff

STOCKHOLM, Sweden – Lundin Petroleum’s (NASDAQ:LUPE) has proven further oil with its latest appraisal well on the giant Johan Sverdrup discovery (ex-Avalsdnes/Aldous) in the Norwegian North Sea.

The semisubmersible rig Bredford Dolphin drilled well 16/2-11 in license PL501, intersecting a 54-m (177-ft) gross oil column in an Upper and Middle Jurassic sandstone reservoir in an oil-down-to situation. Reservoir was encountered at the forecast.

This latest well is 2.2 km (1.4 mi) southeast of well 16/2-8 in PL265 and 3.3 km (2 mi) southwest of well 16/2-6 in PL501.

Lundin says comprehensive logging and coring has been undertaken, along with a full-scale drillstem test in the previously untested Middle Jurassic reservoir. This achieved flow rates above 2,700 b/d of oil through a restricted 40/64-in choke, with good reservoir properties indicating a lateral continuous reservoir.

The well will be side tracked eastwards to determine lateral thickness and property variations in the Jurassic reservoir, and to investigate the possibility of a deeper oil/water contact in this area.

Side tracking should take around 25 days, after which the well will be P&A’d. The rig will then transfer to license PL519 to drill Lundin’s Albert exploration prospect.

3/26/2012

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