Lundin Petroleum AB (Lundin Petroleum) announces that the exploration well 06/94-TV-1X (Toung Vi–1X) offshore Vietnam has reached a target depth of 2,700 meters.

The primary target of the well was the oil potential of the Mio-Oligocene Dua and Cau Formations sandstones. Wireline logs acquired to date indicate that no significant hydrocarbons are present in good quality sands in the objective section. The well is being plugged and abandoned as a dry hole.

The well was drilled using Diamond Offshore’s semi-submersible rig, the Ocean General.

Lundin Petroleum has a licence interest of 33.33 percent together with Pearl Energy (operator) 33.33 percent, AWE 23.3 percent and Serica with 10.00 percent.

Lundin Petroleum is 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. The Company is listed at the Nordic Exchange, Sweden (ticker “LUPE”). Lundin Petroleum has proven and probable reserves of 217,5 million barrels of oil equivalent (mmboe) as at 1 January 2009. (Lundin Petroleum)