Lundin Petroleum AB: Sidetrack of the Second Avaldsnes Appraisal Well Successfully Completed

Lundin Petroleum AB (TSX:LUP) reported that the sidetrack (16/2-7A) of the second appraisal well, 16/2-7, has confirmed great quality oil bearing Upper Jurassic sandstone reservoir.

The press release is quoted as saying:

The sidetrack 16/2-7A was drilled 400 metres northeast of well 16/2-7 to a total depth of 2,100 metres measure depth (MD) and in a water depth of 113 metres. The semi submersible drilling rig Bredford Dolphin was used to drill the sidetrack well.

Lundin Petroleum’s President and CEO Ashley Heppenstall, comments:

“As compared to the successful second Avaldsnes appraisal well the sidetrack has found a larger Jurassic reservoir section above the oil water contact. The sidetrack, the recently drilled two appraisals wells within PL501 license as well as the Aldous Major South discovery will be incorporated into our geotechnical models. A revised resource range from the previously announced 100-400 million barrels of recoverable oil equivalent within PL501 will be announced in the forthcoming weeks”.

Click here to access the entire press release