LUNDIN PETROLEUM AWARDED SIX BLOCKS IN the 24th LICENSING

The six awarded licences are:

· 211/1, 211/2 & 211/3 (Lundin Petroleum, operator 60%)
· 3/6b & 3/11c (Lundin Petroleum, operator 100%)
· 9/9e (Lundin Petroleum, operator 60%)
· 14/30a (Lundin Petroleum 20%)
· 16/8c (Lundin Petroleum 35%)
· 22/16 (Lundin Petroleum 35%)

Ashley Heppenstall President & CEO of Lundin Petroleum comments: “We are very pleased with the award of further licences in the United Kingdom on the back of our recent award in Norway. We are committed to a proactive exploration strategy in the North Sea”

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 existing proven and probable reserves of 176.4 million barrels of oil equivalent (mmboe) as at 1 January 2007.

For further information, please contact:
C. Ashley Heppenstall,
President and CEO
Tel: +41 22 595 10 00

or

Maria Hamilton
Head of Corporate Communications
Tel: 08-440 54 50

LUNDIN PETROLEUM AWARDED SIX BLOCKS IN the 24th LICENSING ROUND IN UNITED KINGDOM

Lundin Petroleum AB (“Lundin Petroleum”) is pleased to announce that it has been awarded interests in six exploration licences in the 24th UK Licensing Round. The licence interests include 3 operated licences and 3 non-operated participating interests.