SPM Spg Media

RNS No 5463q
SODRA PETROLEUM AB
20 May 1999


                            SODRA PETROLEUM AB

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

                 Thar Jath First Exploration Well in Sudan
                establishes a significant new oil discovery

IPC Sudan Limited ("IPC"), a wholly owned subsidiary of Swedish based
Lundin Oil AB is pleased to announce the completion of the drilling and
logging of the Thar Jath well in Sudan.  The well was drilled to a depth of
1820 metres and is currently being temporarily suspended in preparation for
production testing.  Petrophysical analysis of the primary Bentiu and
Aradeiba sandstone reservoirs indicates a substantial net pay interval
which is further supported by excellent oil and gas shows and an oil
gradient from RFT pressure samples.  Reservoir quality appears to be
excellent from both electric log and sample analysis.  Due to the impending
onset of the rainy season and associated logistical difficulties, the
testing of the well will be postponed until the commencement of next year's
dry season at the end of 1999.

The Thar Jath prospect is one of the largest structural features identified
to date in the basin and is on trend with oil fields in blocks 1 and 2
which contain an estimated 500 to 800 million barrels of reserves currently
being developed by the Greater Nile Petroleum Operating Company.  The
construction of their 1500 kilometer export pipeline is nearing completion
with first oil expected in Port Sudan by the end of June of this year.
Pipeline capacity of up to 100,000 BOPD is available for third party users.

IPC signed an Exploration and Production Sharing Agreement ("EPSA") with
the Sudanese government on February 6th, 1997 granting them rights to Block
5A.  The current partnership in the block includes IPC with 40.375%
(Operator), Petronas Carigali Overseas Sdn Bhd with 28.5% OMV (Sudan)
Exploration GmbH with 26.125% and Sudapet Limited (a company wholly owned
by the Government of Sudan) with 5%.



For further information, please contact:

Ian H. Lundin                           Tel: +41 22 319 6606
President & Managing Director

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

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


Notes to editors

1.Lundin is the parent company of Sodra by virtue of its holding of
  40,506,500 Ordinary Shares of SEK0.50 each.  The 40,506,476 Convertible
  Shares of SEK0.50 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 price 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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