The well, which was drilled to a total depth of 1,095m, intersected a large Late Miocene carbonate reef with excellent reservoir properties.
The company said that the gross total vertical pay thickness encountered is about 50m and the deeper targeted oil leg proved to be water bearing.
Lundin Petroleum president and CEO Ashley Heppenstall said this is the second gas discovery made by the company in Block SB303 and the third in the contract area which also contains the TitikTerang discovery.
"All three discoveries are in close proximity to one another and with additional undrilled leads and prospects also in the block a clear opportunity to evaluate the potential for a cluster development now exists," Heppenstall said.
The company drilled the Cempulut-1 well using the Offshore Courageous rig in a water depth of about 75m.
Lundin Petroleum holds a 75% interest in Block SB303, while Petronas Carigali holds the remaining 25% interest.
