Dec. 2010 - The Norwegian Petroleum Directorate granted Lundin a drilling permit for wellbore 16/1-15 using the Bredford Dolphin semisub. The drilling permit is for Production License 338 in the Norwegian sector of the North Sea, which Lundin operates, holding a 50% working interest. Partners on the license include RWE Dea (20%) and Wintershall (30%).

Dec. 2010 - Lundin Petroleum has made an oil discovery in exploratory well 16/1-4 targeting the Apollo prospect in PL 338 in the Norwegian sector of the North Sea. Reaching a total depth of 8,366 feet (2,550 meters) by the Transocean Winner, the well's primary objective was to target the extension into PL 338 of the Jurassic reservoir associated with the Draupne discovery. Secondary objectives were targeted at both the Paleocene and the Upper Jurassic/Lower Cretaceous sand sequences. A 131-foot (40-meter) gross oil column was encountered at the Paleocene level, and a 33-foot (10-meter) gross oil column with excellent reservoir qualities was found at the Cretaceous level. An additional 197 feet (60 meters) of good quality Cretaceous sands were encountered below the oil water contact, resulting in excellent potential up-dip of the discovery. Further delineation drilling is required, but Lundin believes the initial recoverable resources range is estimated at 15 to 65 million barrels of oil. Lundin operates the license, holding a 50% interest; Wintershall holds 30%; and RWE Dea holds the remaining 20% interest.

Sep. 2010 - Lundin Petroleum has spud an exploratory well 16/1-14 on the Apollo prospect in Production License 338. The planned depth of the well is about 8,202 feet (2,500 meters), which is being drilled by the Transocean Winner semisub. Drilling should last for nearly 50 days. The well is targeting the Apollo structure, which is situated to the south of the Draupne field in PL 001B, and about 3 miles (5 kilometers) northwest of and down-dip from the Luno field. The main objective of the Apollo well is to test a possible extension of the Draupne field. Lundin operates the license, holding a 50% interest; Wintershall holds 30%; and RWE Dea holds the remaining 20% interest.

Aug. 2010 - Drilling is to occur on exploration well 16/1-14 on the Apollo prospect in Production License 338. Lundin Norway AS received consent to carry out drilling using the Transocean Winner semisub. The drilling activity is set to commence in September and should take about 40 days, depending on results. Lundin operates the license, holding a 50% interest; Wintershall Norge ASA holds 30%; and RWE-Dea holds 20%.