Company at a glance

Lundin Petroleum is an independent Swedish oil and gas company with a balanced portfolio of exploration and production assets located offshore Norway.

Key Investment Highlights

Strong Operating Cash Flow and Balance Sheet to fund continued growth
» 2016 EBITDA MUSD 902.6
» 2016 operating cash flow MUSD 1,010.8

Exploration – organic growth through the drill bit
» Giant oil discovery on Johan Sverdrup in Norway
» Significant discovery in 2014 on the Alta prospect in the    Barents Sea, Norway
» Further exploration leverage in Norway
» Remaining 2017 exploration programme
– 2 wells targeting >175 MMboe net unrisked resources

Reserves Growth – converting discoveries into cash flow
» 2P reserves 714.1 MMboe

Production Growth – converting discoveries into cash flow
» Strong production and low operating costs
» 2016 production 59,300 boepd
» 2017 production guidance 80,000–85,000 boepd

Opportunistic Value Realisation – unlocking value in our asset portfolio
» Spin-off of non-Norway assets in 2017
» Spin-off of UK assets in 2010
» Distribution of Etrion shareholding in 2010

Nasdaq Stockholm Ticker: LUPE
Year low/high
(September 2016 – September 2017):
SEK 146.2/201.5
Shares outstanding: 340.4 million
Production 2016: 59,300 boepd
Reserves: 714.1 MMboe
Contingent resources: 249 MMboe
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