Lundin partners up in France
Lundin Petroleum has signed a farm out agreement with French Gaz de France
covering the Pays de Saulnois licence off France, giving GdF a 50% stake in
the prospect.
Lundin will retain a 50% share and operatorship of the licence.
One exploration well is planned for the third quarter, targeting the Vaxy
prospect which may have recoverable gas resources of about 500 million cubic
feet of recoverable gas.
Lundin has also signed a second farm out agreement with Société Pétrolière de
Production et d'Exploitation (SPPE), a private French independent, for a 35%
stake in the Ferrieres exploration licence onshore France.
Similar to its deal with Gaz de France, Lundin will remain operator of the
Ferrieres licence with a 65% stake. An exploration in the third quarter is
also planned for the Ferrieres prospect which could hold recoverable
resources of 14 million barrels of oil.
Both agreements are still subject to government approval
08 May 2008 08:42 GMT
| last updated:
08 May 2008 09:26 GMT
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