Lundin Petroleum spuds Bertam-2 appraisal well offshore Malaysia

Source: Lundin Petroleum AB

Lundin Petroleum AB (Lundin Petroleum) (TSX: LUP.TO) (Stockholm: LUPE.ST) is pleased to announce that it recently spudded the Bertam-2 appraisal well in the PM307 Production Sharing Contract (PSC) area, offshore Peninsular Malaysia.

Bertam-2 is planned to be drilled to a total depth of 1,888 metres by the jack-up rig "Offshore Courageous". The objectives of the well are to appraise and test the Oligocene lower coastal plain sandstones of the PM307 PSC area.

The Bertam field was discovered by the Bertam-1 well drilled in 1995. Bertam-1 discovered oil in the K10 sandstone reservoir and flowed 34 degrees API oil at a rate of 624 barrels of oil per day on a short-term production test.

Bertam-2 is located to the northeast of the Bertam-1 discovery well in 76 metres water depth and aims to test the continuity and quality of the K10 oil reservoir and also explore the potential of deeper sands in an independent closure on the northern side of the structure.

The PM307 PSC is operated by Lundin Malaysia BV with 75 percent equity interest. Partner in PM307 is PETRONAS Carigali Sdn. Bhd. with 25 percent.

Bertam-2 is the fifth and final well in Lundin Petroleum's 2011 Malaysia exploration drilling campaign.

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