The awarded licences are all located in the southern Barents Sea and close to licences already held by Lundin Norway. PL962 and PL965 are located in the Fingerdjupet Sub-basin/Hoop area close to PL722/PL853 and PL960 is located in the Harstad Basin in the southwestern part of the Barents Sea, close to PL695.

Nick Walker, COO of Lundin Petroleum, comments:

“I am very pleased with the licences awarded in the 24th licensing round that will further strengthen our significant acreage position in the southern Barents Sea. With these new licences we are expanding our access to key exploration areas where we already hold licences, continuing the same core area exploration strategy that led to a track record of company making discoveries in Norway”.

The licence awards are detailed below:

Licence         Lundin Norway licence interest

PL960:                              20%

PL962:                              20%

PL965*:                            60%