Nemours exploration well spudded, France

22 September 2005

LUNDIN PETROLEUM SPUDS NEMOURS EXPLORATION WELL, ONSHORE FRANCE

Lundin Petroleum AB (Lundin Petroleum) is pleased to announce that the exploration well La Tonelle-1 in the “Permis de Nemours”, France has spudded.

The exploration well will test the Montapot structure, a three-way dip, fault bounded closure, located in the Paris Basin . The target depth for the well is 2,250 meters and drilling is scheduled to take approximately 35 days.

Lundin Petroleum President and CEO Ashley Heppenstall comments: “We are pleased to continue our exploration investment in the Paris Basin where the proximity to infrastructure means that any discoveries can be easily developed.”

Lundin Petroleum is operator of the well and holds a 33.3 percent working interest. Participants in the “Permis de Nemours” are Vermilion Rep S.A. (33.3 percent) and Madison Energy France SCS (33.3 percent).

Lundin Petroleum is a Swedish independent oil and gas exploration and production company with a well balanced portfolio of world-class assets in Albania, France, Indonesia, Iran, Ireland, Netherlands, Nigeria, Norway, Sudan, Tunisia, United Kingdom and Venezuela. The Company is listed on the Attract 40-list at Stockholm Stock Exchange , Sweden (ticker “LUPE”).