Lundin Petroleum Q1 Indonesian activities

The following is excerpt from Swedish oil company Lundin Petroleum AB Interim Report for the quarter ended 31 March 2007:

Production & Sales	1 Jan 2007- 31 Mar 2007 3 months	1 Jan 2006- 31 Mar 2006 3 months	1 Jan 2006- 31 Dec 2006 12 months
Production
- Quantity in mboe	263.4	209.4	904.1
- Quantity in mboepd	2.9	2.3	2.5
Sales
- Quantity in mboe	216.4	90.0	634.1
- Average price per boe (in USD)	57.14	51.90	58.65

 

Salawati Island and Basin (Papua)

The net production from Salawati (Salawati Island WI 14.5% and Salawati Basin WI 25.9%) was 2,900 boepd during the period. The TBA field offshore Salawati Island continues to contribute in excess of 700 boepd net production.

 

Lematang ( South Sumatra )

The approval of the plan of development for the Singa gas field (WI 25.88%) by the Indonesian regulatory authorities was received in 2006. In 2007 a gas sales agreement was signed with PT PLN (PERSERO), a major Indonesian electricity generating company to supply a gross contracted volume of 133 billion cubic feet. First gas from the Singa field is forecast for 2009 at net production rates in excess of 2,000 boepd. In the first quarter of 2007 Lundin Petroleum completed the acquisition of an additional 10 percent working interest in the Lematang block from Serica Energy increasing our interest to 25.88 percent.

 

Blora (Java)

The Tengis-1 exploration well (WI 43.3 %) was spudded in May 2007. (end of report)