Corporate Governance at Lundin Petroleum AB is guided and implemented by a set of basic principles and an overall philosophy designed to:

·	Protect shareholder rights
·	Provide a safe and rewarding working environment to all employees
·	Carry out business (i.e. oil & gas exploration and production) in a professional and efficient manner keeping in mind the protection of the environment
·	Contribute to the development and improvement of living standards in all areas of operations.

Lundin Petroleum AB (the “Company”) carries out business in accordance with certain principles which are set out in the following documents:

1. The Swedish Code of Corporate Governance
The Code of Governance is based on the Swedish Companies Act and the tradition of self-regulation. This document was issued in late 2004 by the Code Group on behalf of the Swedish Government (ref: SOU 2004:130).

2. The Exchange Rules
The Exchange Rules form an integral part of the Listing Agreement between the Company and Nordic Exchange. Details regarding the Exchange Rules can be found on the following website www.omxgroup.com.

3. Code of Conduct (“Code”)
The Code is a set of principles formulated by the Board to give overall guidance to employees, contractors and partners on how the Company is to conduct business. Compliance with the Code is reviewed on an annual basis by the Board. The Code can be found on the Company’s website www.lundin-petroleum.com.

4. Policies & Management System
The Company has developed a set of policies which cover Communication, Finance, HSE, Information Technology, Internal Control and Personnel issues. It has also developed a Health, Safety and Environmental Management System (“Green Book”). The Green Book gives guidance to Management about the Company’s intentions and expectations in HSE matters.

Corporate Governance Structure

	BOARD	MANAGEMENT	STAFF
Swedish Code of Governance	•
Stockholm Stock Exchange Rules	•	•	•
Code of Conduct	•	•	•
Policies		•	•
Green Book		•	•