BRIEF-Lundin Petroleum found oil in Geitungen in the North Sea

STOCKHOLM Aug 27 (Reuters) - Lundin Petroleum : * Says has found oil in geitungen in the norwegian North Sea * Lundin Petroleum AB's (Lundin Petroleum) wholly owned subsidiary Lundin Norway AS (Lundin Norway) is pleased to announce that exploration well 16/2-12 in PL265 has found oil in the Geitungen structure located north of the Johan Sverdrup discovery in the Norwegian North Sea. * Well 16/2-12 has proved a gross oil column of 35 metres in high quality sandstone of Jurassic age. Oil was also proven in the basement rock. * Data acquisition in the well, including coring, wireline logging and fluid sampling, indicates that the Geitungen structure is in communication with the Johan Sverdrup discovery made by Lundin Norway in 2010. * Preliminary calculations of the size of the Geitungen discovery made by operator Statoil, are between 140 and 270 million barrels of gross recoverable oil