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Lundin Petroleum Announces the Spudding of Wan Machar-1 Well in
Sudan
03-15-2008
Lundin Petroleum AB (Lundin
Petroleum) announces that exploration well Wan Machar-1 (previously Umm Dandalo)
has spudded in Block 5B, Sudan. The well is located in the swamp area of the
block, on the eastern flank of the basin.
The well, with a planned depth of 1,700 metres, will target the Upper to Lower
Cretaceous sandstone reservoirs that have proved highly productive in other
producing fields in the Muglad Basin. The gross unrisked recoverable prospective
resource for the Wan Machar prospect is estimated at 1 542 million barrels of
oil (mmbo).
The partners in Block 5B are Petronas Carigali White Nile (5B) Ltd ("Petronas")
(39%), Lundin Petroleum (24.5%), ONGC Videsh Ltd (23.5%) and Sudapet Ltd (13%).
Furthermore, the partnership has accepted the recommendation of the National
Petroleum Commission to assign a 10 percent share to the National Oil Company of
Southern Sudan to be allocated on a "pro rata" basis from each of the partners'
shares. The operator of Block 5B is White Nile Petroleum Operating Company (WNPOC)
a joint venture between Sudapet Ltd and Petronas.
Ashley Heppenstall, President and CEO of Lundin Petroleum, commented: The start
of drilling operations in the swamp p art of Block 5B is another major
milestone. Wan Machar is a world class exploration prospect which if successful
will transform Lundin Petroleum. We remain optimistic on the overall
prospectivity of the Muglad Basin and its extension into block 5B, an area of
over 20,000 km2 which is virtually unexplored to date.
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