AGM 2007 Ashley Heppenstall, President & CEO WF9600 Stockholm, 16 May 2007
Production Development 2005 Actual 2006 2004 33,100 BOEPD Actual Actual 29,400 BOEPD 28,900 BOEPD 2003 Actual 2002 16,100 BOEPD Actual 14,010 BOEPD 2001 NIL WF9586 05.07
Production Development First Quarter 2007 Actual 39,900 BOEPD 2005 Actual 2006 2004 33,100 BOEPD Actual Actual 29,400 BOEPD 28,900 BOEPD 2003 Actual 2002 16,100 BOEPD Actual 14,010 BOEPD 2001 NIL WF9586 05.07
Production Development Production Increase 70% End 2007 Forecast 50,000 BOEPD First Quarter 2007 Actual 39,900 BOEPD 2005 Actual 2006 2004 33,100 BOEPD Actual Actual 29,400 BOEPD 2003 28,900 BOEPD + 70% Actual 2002…
Share Price History Annualised growth over period 86% p.a. SEK / share 120 100 80 60 40 20 0 2001 2002 2003 2004 2005 2006 2007 WF9381 05.07
Historical Reserves 200 180 160 140 Russia Norway 120 U.K. MMboe Venezuela 100 Tunisia 80 Indonesia Netherlands 60 France 40 20 0 2003 2004 2005 2006 2007 WF9192 05.07
2007 Proven & Probable Reserves Total 176.4 MMboe Russia (30.3) France (22.6) Netherlands (5.4) Gas 10.9% Indonesia (17.6) Oil 89.1% 176.4 Norway (47.2) Tunisia (3.8) UK (49.3) Increase in Reserves 29% Reserves Replacement…
A Diversified Portfolio United Kingdom Norway Russia Profit 2006 5 production licences, 1 production licence, 4 producing blocks, 1 development licence, 1 exploration licence SEK 800 Million 20 exploration licences 22 exploration…
2006 Acquisition Norway Russia UK Artic Ocean SWEDEN KOMI REGION PEIK 009 ORENBURG REGION RUSSIA 0025 UKRAINE Black Sea UK KALMYKIA REGION Caspian KAZAKHSTAN Sea NORWAY 0 Kilometres 10 IRAN CHINA
2006 New Venture Vietnam Ethiopia Singapore Congo (Brazzaville) GABON 0 KM 50 DJIBOUTI Ho Chi Minh 0 KM 100 CONGO (Brazzaville) ETHIOPIA VIETNAM BLOCKS 2 & 6 MARINE XI SOMALIA ANGOLA CONGO KENYA (Kinshasa) 0…
USD 520 Million Capital Investment - 2007 Norway UK Russia France Development - USD 290 million Norway - Alvheim field, onstream 2007 - Volund field, onstream 2009 Sudan Indonesia UK - Broom field, infill drilling - Heather…
Norway - Alvheim Project - First Oil Third Quarter WF9588 05.07
Alvheim Area 0 Kilometres 10 Lundin Operator 9/10c Lundin Interest Blocks LeadPL413 Mon PL413 2P Reserves Prospect A PL413 PL363 Contingent Resources 9/9e Lead Maybe Prospect B 9/10b W Prospective Resources Lead C PL088…
Contingent Resources - Existing Discoveries 133 MMboe net Lundin Petroleum Congo (Brazzaville), 6.6 Indonesia, 9.3 Norway, 45.1 France, 12.4 Tunisia, 4.9 UK, 54.7 WF9257 03.07
Norwegian Undeveloped Discoveries PL006c: South East Tor 75% interest (operator) gross resources: 22.5 mmboe PL148 7/7-2: Nemo 50% interest (operator) gross resources: 20.6 mmboe Appraisal drilling in Q3 2007 PL292: Phi South…
USD 230 Million Exploration Work Programme - 2007 Other + NV (14) Vietnam (8) Indonesia Salawatis (10) UK (57) Sudan (27) Total 230 MUSD Norway (41) Russia (73) Unrisked Prospective Resource Country Wells Area Potential…
Licence Awards in the North Sea 2006 Norway APA 2006 - 7 licences awarded UK 24th Round 2006 - 6 licences awarded Awards from APA 2006 & UK 24th Rounds (2) (1) (4) Non-operated 12 (1) Operated (2) Well commitments No of…
Russia Exploration - Lagansky Block 2 exploration wells in 2007 Tengutinskoye Lundin Promyslovskoye Concession Sallkhinskaya Oleynikovskoye Mezhevoye Oil Field Gas Field Kurgannoye Petroskaya Lead Kamyshanskoye S. Gas…
Russia - Lagansky Block WF9588 sw 05.07
Sudan - Block 5B Block B Central EGYPT Thar Jath (Dev) LIBYA Re Duar 0 Km 20 d Se nal a Thar Jath Port Sudan lei Ca Baang 1 Block 5B Jong Jarayan 1 CHAD ERITREA Block 5A Khartoum Haar SUDAN…
Exploration Upside Potential MMboe (unrisked, net to Lundin) 2000 2008 Russia, France, Norway, UK, Vietnam, Ethiopia 1500 Block 5B success, Sudan 2007(500) Indonesia - 6 wells, 2007 (30) 1000 UK, 2007 (100) Lagansky,…
Chinas Oil Consumption China, 8.5% of World Consumption WF9592 05.07
Chinas Appetite As a % of World Consumption 19 % Aluminium 20 % Copper 27 % Steel 31 % Coal 47 % Cement 33 % Fish WF9593 05.07
Consumption of Oil per Habitant 26 Barrels per Year 12 Barrels per Year 2 Barrels per Year WF9594 05.07
Adolf H. Lundin 1932 - 2006 WF9588 sw 05.07
There are three kinds of people: Those who let it happen, Those who make it happen, Those who wonder what happened Ronald Reagan, 1911-2004 WF9595 05.07