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Company at a glance |
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Lundin Petroleum is an independent Swedish oil and gas exploration and production company with a balanced portfolio of world-class assets.
Lundin Petroleum is an independent Swedish oil and gas exploration and production company. Production is generated from assets in Norway, France, Tunisia, Netherlands, Russia and Indonesia. In addition there is significant upside potential within these areas of operation including undeveloped oil and gas discoveries and ongoing exploration programmes. Together with the exploration assets in Malaysia, Congo (Brazzaville) and Ireland, Lundin Petroleum has a balanced portfolio of world-class assets. Lundin Petroleum has existing proven and probable reserves of 211 million barrels of oil equivalent (MMboe) and a forecast net production range for 2012 of 32,000-38,000 barrels of oil equivalent per day (boepd).
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Key Investment Highlights
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Strong Operating Cash Flow and Balance Sheet
to fund continued growth |
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Exploration - organic growth through the
drill bit |
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» Giant oil discovery on Johan Sverdrup in Norway
- Estimated 1.7-3.3 billion boe gross contingent resources |
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» Six other discoveries in 2011
- Caterpillar, Tellus and Skalle in Norway
- Tarap, Cempulut and Janglau in Malaysia |
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» Further exploration leverage in Norway and SE Asia
» 24 exploration/appraisal wells in 2012 |
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Reserves Growth - converting discoveries into cash flow |
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» Reserves increased 21% in 2010 to 211 MMboe
» 264% reserve replacement ratio achieved in 2011
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Production Growth - converting discoveries into cash flow |
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Opportunistic Value Realisation - unlocking value in our asset portfolio |
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» Spin-off of UK assets
» Distribution of Etrion shareholding
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| Nasdaq OMX Stockholm |
Ticker: LUPE |
| Year low/high (Jan 2011-Jan 2012): |
SEK 75.70/180.00 |
| Toronto Stock Exchange (TSX) |
Ticker: LUP |
| Year low/high (Mar 2011-Jan 2012): |
CAD 10.75/27.50 |
| Shares outstanding: |
318 million |
| Production forecast 2012: |
32,000-38,000 boepd |
| Reserves (31 Dec 2011): |
210.7 MMboe |
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