SPM Spg Media

RNS No 6327r
SODRA PETROLEUM AB
8th September 1998


                        SODRA PETROLEUM AB

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

               Block PM3 Commercial Arrangement Area

          Bunga Kekwa Field producing at over 18,000 bopd

LUNDIN   OIL   AB   (The  "COMPANY"),  through  its   wholly-owned
subsidiary,  Lundin  Malaysia Ltd,  is  pleased  to  announce  the
completion  of  the  BK-A5  well,  an  appraisal/development  well
drilled  from  the Bunga Kekwa field BK-A platform, in  Block  PM3
CAA, the Commercial Arrangement Area between Malaysia and Vietnam.

The well was drilled using the Trident 15 rig to a total depth  of
7,834  ft (vertical depth). The well location targetted the  crest
of  the  structure,  and  confirmed the  continuity  of  reservoir
horizons  updip of the BK-A1 and BK-A4 wells, which have  been  on
production  since  July 1997. A dual string production  completion
was installed to allow production from four oil bearing intervals,
and the well is producing at a combined rate of over 9,000 bopd.

The  Bunga Kekwa field is currently producing in excess of  18,000
bopd, using a Floating Production Storage and Offloading vessel.

A  further  production well BK-A6 has also been spudded  from  the
platform. The well will be deviated to reach target reservoirs  at
a  depth of 15,393 feet measured depth (vertical 7,347 ft), and is
scheduled to take approximately 39 days including completion.

Lundin  Oil AB has a 41.44 percent working interest (held  through
Lundin  Malaysia Ltd. 26.44 percent, Sands Malaysia AB 15 percent)
and  is  the Operator of Block PM3 CAA. The remaining interest  is
held  by  Petronas  Carigali  Sdn  Bhd  with  46.06  percent   and
PetroVietnam Exploration and Production with 12.5 percent.

For further information, please contact:

Ian H. Lundin
Managing Director
Tel: +41 22 3196606

Magnus Nordin
Deputy Managing Director
Tel: +46 8 440 54 50

Simon Rothschild/Judith Parry
Millham Communications
Tel: 0171 256 5756

Notes for editors:

1.   Lundin is the parent company of Sodra by virtue of its
holding of 40,506,500 Ordinary Shares of SEK0.05 each.  The
40,506,476 Convertible Shares of SEK0.05 each in Sodra listed on
the AIM market are effectively convertible into the right to
subscribe for B Shares in Lundin in November 2001.  Upon exercise
of the conversion right, for every 12 Convertible Shares, the
holder will receive a warrant to subscribe for 1 new Lundin B
Share at the nominal value of SEK0.50.

2.   Convertible Shares in Sodra are also listed on the New Market
of the Stockholm Stock Exchange.  Lundin B Shares are currently
quoted on the Stockholm Stock Exchange, Toronto Stock Exchange and
the Nasdaq National Market.

END

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