United Kingdom - Licence Table

United Kingdom Licence Summary (May 2008)

LICENCE	LICENCE TYPE	LUNDIN INTEREST	OPERATOR	PARTNERS

Broom P242/P902	Production	55%	Lundin	Palace Exploration Company 29% Challenger Minerals Inc. 8% Dyas 8%
Heather P242	Production	100%	Lundin
SW Heather P242	Exploration	55%	Lundin	Palace Exploration Company 29% Challenger Minerals Inc. 8% Dyas 8%
Thistle P236 & P475	Production	99%	Lundin	BP 1%
Deveron P236	Production	99%	Lundin	BP 1%
P090 (Block 9/15a - Peik)	Exploration	33.3%	Lundin	Bow Valley 66.7%
P090 (Block 9/10b W)	Exploration	85%	Lundin	Bow Valley 15%
P1089 (Blocks 14/28a & 14/29b & P1295 (Block 14/23b)	Exploration	10%	Oilexco	Oilexco North Sea Ltd 41.25% Palace Exploration Company 38.75% Challenger Minerals Inc. 10%
P1107 & P1109 (Blocks 21/8, 21/14 & 21/15b)	Exploration	40%	Lundin	Palace Exploration Company 50% Challenger Minerals Inc. 10%
P1125 (Blocks 30/23a, 30/27a, 30/28a)	Exploration	25%	Lundin	Palace Exploration Company 65% Challenger Minerals Inc. 10%
P1283 (9/14c & 15c)	Exploration	37.5%	Conoco	ConocoPhillips 45% Genesis Exploration and Production 17.5%
P1301 (Block 12/17b)	Production	30%	Lundin	Britcana Energy Ltd 40% Palace Exploration Company 20% Gulf Shores UK Petroleum Ltd 10%
P1397 (Block 12/23a)	Exploration	15%	Endeavour	Endeavour Energy 33.33% Hunt 33.33% Palace Exploration Company 13.33% Britcana Energy Ltd 5%
P1399 (Blocks 12/26b, 12/27, 17/15b, 18/1a & 18/2a)	Exploration	15%	Endeavour	Endeavour Energy 33.33% Hunt 33.33% Palace Exploration Company 13.33% Britcana Energy Ltd 5%
P1406 (Blocks 3/6b & 3/11c)	Exploration	100%	Lundin
P1410 (Block 9/9e)	Exploration	60%	Lundin	Genesis Exploration & Production Ltd 40%
P1421 (Block 22/16)	Exploration	35%	Endeavour	Endeavour 35% RWE-Dea 30%
P1463 (Block 14/30a)	Exploration	20%	EnCore	EnCore 40% Endeavour 20% Nautical Pet Plc 20%
P1471 (Block 16/8c)	Exploration	35%	Endeavour	Endeavour 35% RWE-Dea 30%
P1487 (Blocks 211/1, 211/2 & 211/3)	Exploration	60%	Lundin	Genesis Exploration & Production Ltd 40%