Lundin Petroleum receives information regarding a potential corporate fine and forfeiture of economic benefits in relation to...
01 Noviembre 2018 - 9:47AM
Lundin Petroleum receives information regarding a potential
corporate fine and forfeiture of economic benefits in relation to
past operations in Sudan
Lundin Petroleum AB (“Lundin Petroleum” or
the “Company”) has received notification from the Swedish
Prosecution Authority on 1 November 2018 that the Company may be
liable to a corporate fine (Sw. företagsbot) and forfeiture of
economic benefits (Sw. förverkande av ekonomiska fördelar) in
connection with the preliminary investigation into past operations
in Sudan from 1997 to 2003.
- The Swedish Prosecution Authority has issued a notification of
a corporate fine and forfeiture of economic benefits against Lundin
Petroleum in relation to past operations in Sudan from 1997 to
2003.
- The notification indicates that the Prosecutor may seek:
- a corporate fine of SEK 3 million; and
- forfeiture of economic benefits from the alleged offense in the
amount of SEK 3,282 million, based on the profit of the sale of the
Block 5A asset in 2003 of SEK 729 million.
- Any potential corporate fine or forfeiture would only be
imposed after the conclusion of a trial, should one occur.
- The investigation is in its ninth year and Lundin Petroleum
remains convinced that there are absolutely no grounds for any
allegations of wrongdoing by any Company representatives and the
Company will firmly contest any corporate fine or forfeiture of
economic benefits.
The timeframe for a decision as to whether and when any
corporate fine or forfeiture may be imposed remains uncertain but
would only be incurred at the conclusion of a trial, if any, of
matters currently under investigation. Fully in line with the
Company’s position that there are absolutely no grounds for any
allegations of wrongdoing by any Company representatives, the
Company will firmly contest any corporate fine and forfeiture of
economic benefits.
In June 2010, the Swedish Prosecution Authority initiated a
preliminary investigation into alleged complicity in violations of
international humanitarian law in Sudan during 1997–2003. The
investigation is now in its ninth year. Lundin Petroleum and its
representatives have cooperated extensively and proactively with
the investigation by providing information regarding the past
operations in Sudan and by participating in interviews.
Lundin Petroleum remains convinced that there are absolutely no
grounds for any allegations of wrongdoing by any Company
representatives and strongly believes that it was a force for
development in Sudan. For more information on the Company’s past
activities in the region, please visit
www.lundinhistoryinsudan.com
Lundin Petroleum is one of Europe’s leading
independent oil and gas exploration and production companies with
operations focused on Norway and listed on NASDAQ Stockholm (ticker
"LUPE"). Read more about Lundin Petroleum’s business and operations
at www.lundin-petroleum.com
For further information, please contact:
Edward
WestroppVP Investor RelationsTel: +41 22 595 10
14edward.westropp@lundin.ch |
|
Sofia
AntunesInvestor Relations OfficerTel: +41 795 23 60
75sofia.antunes@lundin.ch |
|
Robert
ErikssonManager, Media CommunicationsTel: +46 701 11 26
15robert.eriksson@lundin-petroleum.se |
This is information that Lundin Petroleum AB is required to make
public pursuant to the EU Market Abuse Regulation. The information
was submitted for publication, through the contact persons set out
above, at 16.30 CET on 1 November 2018. Forward-Looking
Statements
Certain statements made and information contained herein
constitute "forward-looking information" (within the meaning of
applicable securities legislation). Such statements and information
(together, "forward-looking statements") relate to future events,
including the Company's future performance, business prospects or
opportunities. Forward-looking statements include, but are not
limited to, statements with respect to estimates of reserves and/or
resources, future production levels, future capital expenditures
and their allocation to exploration and development activities,
future drilling and other exploration and development activities.
Ultimate recovery of reserves or resources are based on forecasts
of future results, estimates of amounts not yet determinable and
assumptions of management.
All statements other than statements of historical fact may be
forward-looking statements. Statements concerning proven and
probable reserves and resource estimates may also be deemed to
constitute forward-looking statements and reflect conclusions that
are based on certain assumptions that the reserves and resources
can be economically exploited. Any statements that express or
involve discussions with respect to predictions, expectations,
beliefs, plans, projections, objectives, assumptions or future
events or performance (often, but not always, using words or
phrases such as "seek", "anticipate", "plan", "continue",
"estimate", "expect", "may", "will", "project", "predict",
"potential", "targeting", "intend", "could", "might", "should",
"believe" and similar expressions) are not statements of historical
fact and may be "forward-looking statements". Forward-looking
statements involve known and unknown risks, uncertainties and other
factors that may cause actual results or events to differ
materially from those anticipated in such forward-looking
statements. No assurance can be given that these expectations and
assumptions will prove to be correct and such forward-looking
statements should not be relied upon. These statements speak
only as on the date of the information and the Company does not
intend, and does not assume any obligation, to update these
forward-looking statements, except as required by applicable laws.
These forward-looking statements involve risks and uncertainties
relating to, among other things, operational risks (including
exploration and development risks), productions costs, availability
of drilling equipment, reliance on key personnel, reserve
estimates, health, safety and environmental issues, legal risks and
regulatory changes, competition, geopolitical risk, and financial
risks. These risks and uncertainties are described in more detail
under the heading “Risks and Risk Management” and elsewhere in the
Company’s annual report. Readers are cautioned that the foregoing
list of risk factors should not be construed as exhaustive. Actual
results may differ materially from those expressed or implied by
such forward-looking statements. Forward-looking statements are
expressly qualified by this cautionary statement.
- Lundin Petroleum - Information on potential company fine and
forfeiture - V1-20181101en