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: +46 8 440 54 50
Mobile: +41 79 63 53 641
LUNDIN PETROLEUM AND GAZPROM TO WORK TOGETHER IN LAGANSKY BLOCK IN NORTHERN CASPIAN.
Lundin Petroleum AB ("Lundin Petroleum") and JSC Gazprom ("Gazprom") signed a call option agreement whereby Gazprom will have the option to acquire an effective 50 percent plus one share controlling shareholding in the Lagansky Block exploration licence located in the Russian sector of the Caspian Sea.
| Source: Orrön Energy AB