AWARDED 4 LICENSES IN APA 2008
Spring Energy, Press release, 19 December 2008.
As announced by the Norwegian Ministry of Petroleum and Energy on 18 December 2008, Spring Energy has been awarded 4 licenses in the APA 2008.
In addition, Spring Energy has farmed in to the license PL 344B from Revus Energy ASA.
Following this, Spring Energy now holds a total of 10 licenses on the NCS.
END
Dated: 19 December 2008
Spring Energy Norway AS
For further information contact:
Roar Tessem, CEO, Spring Energy
Mob: +47 90666764
Or
Jørn Rokk, Business Development Manager, Spring Energy
Mob: +47 48408030
Or
Lars Husby, CFO, Spring Energy
Mob: +47 48400415
About Spring Energy:
Spring Energy is an Oslo-based independent Norwegian upstream oil and gas company. The company was established in 2007 by a group of E&P professionals with extensive experience from the industry. The company's goal for the next 3-5 years is to develop a first class exploration and production company holding a risk balanced portfolio with high potential assets in all phases.
Spring Energy will initially focus on the NCS and will pursue exploration, appraisal and development opportunities on the whole NCS by participating in license rounds but also pro-actively seek opportunities in the transaction market. The company currently has interests in 10 production licenses on the NCS.
Spring Energy was prequalified as a licensee on the NCS in July 2008, and plan to become pre-qualified as an operator in 2009. Spring Energy is financially backed by HitecVision, assisting the company in achieving its key objectives. Spring Energy currently has a team of 22 highly competent employees, and will increase the team further during 2009.