10:05 AM EST - Lundin Petroleum AB : completed the Merawan Batu-1 exploration well in Block PM308B, offshore east coast Peninsula Malaysia. The exploration well targeted hydrocarbons in Oligocene aged sands in a faulted anticline in an undrilled area 50 km to the west of the Janglau oil discovery made by Lundin Petroleum in 2011. The objective reservoirs were successfully penetrated but proved to be water-bearing. The well will be plugged and abandoned as a dry hole. Lundin Petroleum AB
shares T.LUP are trading unchanged at $23.36.
