SPM Spg Media

RNS Number:1170F
Sodra Petroleum AB
12 June 2001

12 June 2001

                              Sodra Petroleum AB


    Sodra Petroleum AB announces that its parent company, Lundin Oil AB
    ("Lundin") has today issued the following:


    Albania: Lundin Oil withdraws from Block 2

    Lundin Oil AB wholly owned subsidiary Lundin Albania Limited has submitted
    its notice of withdrawal from Block 2 onshore Albania.

    A deep well, known as Shpiragu-1 was spudded on the Block in November 2000
    and is still drilling ahead at approximately 4500 meters. The decision to
    withdraw was based on the results of an intermediate logging run at 4050
    meters. Lundin Oil considers that the well will not meet Lundin Oil's
    economic threshold at current depth or deeper.

    Lundin Albania Limited maintains a 20 % interest in one other block in
    Albania.

    Lundin Oil AB is a Swedish independent oil company with exploration and
    production activities in eight different countries worldwide. The Company
    is listed on Nasdaq (symbol "LOILY") and the Stockholm Stock Exchange
    (symbol "LoillB").



                For further information, please contact:

                                 Ian H Lundin

                              Managing Director

                              Sodra Petroleum AB

                            Tel: +41-22 319 66 00

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