Avaldsnes Discovery - a New Giant in Norway Lundin Petroleum Presentation 11367 09.11 30th September 2011
3 Major Increase to Avaldsnes Resources me gr a m l Pro ais a r App Resources - gross recoverable on Licence PL501 WF11366 p7 09.11
4 Avaldsnes and Aldous Major South is One Field Aldous Major South PL265 1,200 - 2,600 Avaldsnes MMbo PL501 Lundin Petroleum Interest: 10% PL265 & 40% PL501 WF11366 p13 09.11 Contingent resources are gross
6 Avaldsnes - In the Heart of the North Sea 0 15 KM 60 Snorre Located in the southern Utsira High Statfjord Gullfaks Close to existing infrastructure 35km south of Grane - significant spare capacity Troll in the Grane…
7 The Southern Utsira High - A Sleeping Giant 0 KM 20 Oil Gas APA 2010 PL546 A 4th generation exploration PL501 APA 2009 and a major oil province 45 years after the first award: PL001 in 1965 Major acreage position…
8 The Luno Discovery - PL338 0 KM 20 Oil Gas PL546 PL501 Lundin Petroleum 50% (operator) Partners: RWE Dea 20%, Wintershall 30% Tellus Luno discovery: Apollo 148 MMboe gross Luno Tellus discovery: 11-55 MMboe gross…
9 The Avaldsnes Discovery - PL501 0 KM 20 Oil Gas PL546 PL501 - Avaldsnes PL501 Lundin Petroleum: 40% (operator) Gross contingent resources: Tellus 800 - 1,800 MMbo Apollo Luno Structure Closure: 184km2 PL501B 2010…
10 Avaldsnes - World Class Reservoir Excellent reservoir quality high porosity & permeability sands Normal pressure & temperature Easily producible oil Apollo Oil dripping out of the cores 2 full scale production tests…
11 Avaldsnes - The Story Pre-appraisal PL546 (60%) PL501 (40%) Gross Contingent Resources on block 100 - 400 MMboe Preliminary geological model assumed no Jurassic reservoir 16/2-6 in white area 16/3-2 PL265 (10%)…
13 Avaldsnes / Aldous - Geological Cross-Section Aldous Major South Avaldsnes 16/2-8 7KM 16/2-7 4KM 16/3-4 4.5KM 16/3-2 Average Water Depth -115m PL501 PL265 Jurassic Sand Draupne shale Jurassic Sand Oil Oil…
14 Avaldsnes - What has Changed Oil Sand Appraisal Results Shale More sand (Higher net to gross) Higher porosity Higher oil saturation Higher oil recovery 100 - 400 MMboe 800 - 1,800 MMbo The size of the tank is…
16 Avaldsnes 2011 Further Appraisal Programme Luno PL338 16/2-9S Aldous Major North By end 2011 7 wells will be PL265 drilled on 16/2-10 appr. Avaldsnes/Aldous 16/2-8 Aldous Major South Discovery well OWC -1922m…
17 The Way Forward Avaldsnes / Aldous Major South Aggressive appraisal programme in PL501 and PL265 in 2011 and 2012 Avaldsnes and Aldous Major South will be developed as one field Lundin Petroleum and Statoil, as…
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