Jakarta, 9 October 2015 – We are pleased to announce that PT Medco Energi Internasional Tbk  (MedcoEnergi), has signed a Sale and Purchase Agreement (“SPA”) with Lundin SEA Holding AB to acquire the Indonesian operations of Lundin Indonesia Holding B.V. on Thursday, October 8, 2015. The Indonesian assets include the non-operated interest in Lematang Block and operated interests in the South Sokang and Cendrawasih VII Blocks, as well as the Joint Study Agreement (JSA) in respect of the Cendrawasih VIII Block. Completion of this transaction is conditional upon approval from the Government of Indonesia.

Lundin Indonesia Holding B.V, an affiliate of Lundin Petroleum AB (“Lundin”), a Swedish independent oil and gas exploration and production company active in Europe and Southeast Asia.  Lundin holds a 25.8824 percent participating interest in the Singa Field (Lematang PSC), a 100 percent participating interest in the Cendrawasih VII Block (Cendrawasih VII PSC), a 100 percent participating interest in the Cendrawasih VIII JSA and a 60 percent participating interest in the South Sokang Block (South Sokang PSC).

Lukman Mahfoedz, President Director & CEO of MedcoEnergi, cited, “This acquisition is in line with the Company’s goal to maximize production of Singa gas field in Lematang Block and it will contribute to MedcoEnergi’s total gas production by 42 MMSCFD in 2015. Lukman also added, “We are expecting the government endorsement for this transaction would be given within a short time since MedcoEnergi is the operator of this block. We will continue to supply gas to the State-Owned Electricity Company (PLN) with a decent price”.