Lundin Petroleum Enters Farmout Agreement for Pl544

Lundin Petroleum AB's (Lundin Petroleum) wholly owned subsidiary Lundin Norway AS (Lundin Norway) is pleased to announce that it has entered into a farmout agreement with Explora Petroleum AS (Explora Petroleum) in respect of licence PL544. Explora Petroleum will acquire a 30 percent interest in PL544, the license is located in the North Sea. The farmout agreement is subject to approval by Norwegian authorities. Lundin Petroleum is the operator of PL544 and will have 40 percent working interest in PL544 after the farmout to Explora Petroleum.

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