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Lundin Petroleum announces 2017 production guidance

Oljefyndighet på Filicudistrukturen i södra Barents hav

13 February 2017

Lundin Petroleum AB (“Lundin Petroleum”) is pleased to announce its production guidance for 2017.

Lundin Petroleum’s 2017 production guidance is between 79,000 to 91,000 barrels of oil equivalent per day (boepd).

Further to the announcement earlier today regarding the proposed spin-off of Lundin Petroleum’s assets in Malaysia, France and the Netherlands (the “IPC Assets”) into a newly formed company called International Petroleum Corporation (“IPC”), the pro-forma production guidance for Lundin Petroleum, comprising only the assets in Norway, is between 70,000 to 80,000 boepd, whilst the IPC production guidance is between 9,000 to 11,000 boepd.

The pro-forma production guidance for the respective companies is provided on the basis of an effective date of 1 January 2017 for the proposed spin-off of the IPC Assets. However, Lundin Petroleum will account for the production from the IPC Assets up to the date of the completion of the spin-off, with a net financial settlement to account for the cash generation from the effective date to the completion date.

Lundin Petroleum is a Swedish independent oil and gas exploration and production company with a well balanced portfolio of worldclass assets primarily located in Europe and South East Asia. The Company is listed on NASDAQ Stockholm (ticker “LUPE”). Lundin Petroleum has proven and probable reserves of 743.5 million barrels of oil equivalents (MMboe) as at 31 December 2016.

For further information, please contact:

Maria Hamilton
Head of Corporate Communications
maria.hamilton@lundin.ch
Tel: +41 22 595 10 00
Tel: +46 8 440 54 50
Mobile: +41 79 63 53 641
orTeitur Poulsen
VP Corporate Planning & Investor Relations
Tel: +41 22 595 10 00

This information is information that Lundin Petroleum AB is required to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the contact persons set out above, at 07.30 CET on 13 February 2017.

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