11:50 AM EST - Lundin Petroleum AB : announced that its Norwegian subsidiary came out with new developments regarding the Luno discovery. As operator of PL338 Lundin Petroleum has received a letter from the Norwegian Petroleum and Energy Ministry which requests the licensee holders of PL338 and PL001B licence (containing the Draupne discovery) to coordinate a joint development solution. Lundin Petroleum agree with the conclusions of the Ministry and that certain joint development solutions will provide material cost savings to all stakeholders. Lundin Petroleum has proposed to the Draupne licence holders, prior to receipt of the letter from the Ministry, commercial solutions for a joint development. Lundin Petroleum AB
shares T.LUP are trading down $0.40 at $19.00.
