Chief
executive
Ashley
Heppenstall
said
mid-case
resources
in
the
company’s
operated
production
licence
501
are
now
most
likely
to
be
“within
the
lower
half”
of
the
previous
estimate
of
800
million
to
1800
million
barrels
of
oil
equivalent,
sending
Stockholm-listed
Lundin’s
shares
down
almost
12%
to
Skr145.50.
Analyst
Teodor
Sveen
Nilsen
of
Swedbank
First
Securities
said
in
a
note
the
reduced
prognosis
from
the
company
was
“clearly
negative
and
undoubtedly
below
the
market
expectations”.
He
added
that
it
was
“negative
news
for
all
Sverdrup
partners”,
also
including
Statoil
and
Det
norske
oljeselskap,
and
in
particular
for
the
licensees
in
PL501
that
Lundin
operates…
