Lundin Strikes Gas in East Malaysia

Lundin Petroleum has struck gas in the Cempulut-1 well at a total depth of 1,095 meters offshore Sabah in East Malaysia.

During drilling in Block SB303, the well intersected a large Late Miocene carbonate reef with excellent reservoir properties and the gross total vertical pay thickness encountered is approx. 50 metres.The data recovered from the well will be analysed further in order to determine a range of resource estimates.

"This is the second gas discovery made by Lundin Petroleum in SB303 and the third in the contract area which also contains the Titik Terang discovery," President and CEO of Lundin Petroleum Ashley Heppenstall said. With the three discoveries in close proximity to one another and undrilled leads and prospects in the block confirming a clear opportunity, there is a potential for cluster development."

The rig will now move to drill the Batu Hitam Prospect, in PM308A, the third well in Lundin Petroleum's five well drilling campaign slated in the current year in Malaysia.

Lundin Petroleum holds a 75 percent interest in SB303 through its subsidiary Lundin Malaysia with PETRONAS Carigali holding a 25 percent interest.