11:35 AM EST - Lundin Petroleum AB : announced that its subsidiary, Lundin Norway AS, came out with an updated estimate of the recoverable Contingent Resources from the Avaldsnes discovery in licence PL501, located in the Norwegian North Sea on the Norwegian Continental Shelf (NSC). Lundin Petroleum is the operator of PL501. The Avaldsnes discovery is estimated to contain gross Contingent Resources of between 800 million and 1.8 billion barrels of recoverable oil within licence PL501 following the results of this year's two appraisal well and sidetrack program. Lundin Petroleum AB
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