Contingent resources are known oil and gas resources not yet classified as reserves due to one or more contingencies. Work is continuously on going to remove these contingencies and to move contingent resources to reserves.
Lundin Petroleum has assets classified as contingent resources with “best case” or 2C. Contingent resource estimates have been evaluated internally by a qualified reserves auditor in accordance with 2007 Petroleum Resources Management System (PRMS) Guidelines of the Society of Petroleum Engineers (SPE), World Petroleum Congress (WPC), American Association of Petroleum Geologists (AAPG) and Society of Petroleum Evaluation Engineers (SPEE).
Lundin Petroleum has assets classified as contingent resources with “Best Case”(2C) of 249 MMboe.