Lundin Petroleum Q3 Indonesian activities

The following is excerpt from Swedish oil company Lundin Petroleum AB Interim Report for the quarter ended September 30, 2006:

Salawati Island and Basin (Papua)
The net production from Salawati (Salawati Island WI 14.5% and Salawati Basin WI 25.9%) was 2,300 boepd during the period. First production from the TBA field offshore Salawati Island was achieved during the third quarter following the successful installation of a FPSO facility. The TBA field is currently producing at approximately 700 boepd net to Lundin Petroleum.

Banyumas (Java)
The Jati-1 exploration well (WI 25%) was plugged and abandoned as uncommercial in the first half of 2006.

Blora (Java)
The Tengis-1 exploration well (WI 43.3%) has been delayed due to issues associated with field regulatory approvals.

Lematang (South Sumatra)
A plan of development for the Singa gas field (WI 15.88%) is currently awaiting approval from Indonesian regulatory authorities. A gas sales agreement is currently being negotiated with the state gas distribution company PT Persusahaan Negara (PGN) to supply gas to PGN customers in West Java for 10 years following the earlier signing of a heads of agreement. First gas from the Singa development is forecast for 2008. Lundin Petroleum signed an agreement in June 2006 to acquire an additional 10 per cent working interest in the Lematang block from Serica Energy plc for USD 5 million. Following completion of the transaction which is subject to government approval, Lundin Petroleum will own a 25.88% working interest in the Lematang block containing the Singa field. (end of report)