Norway: Spring Energy Wins 5 Licenses in the APA 2010 Round

As announced by the Norwegian Ministry of Petroleum and Energy on 18 January 2011, Spring Energy has been awarded 5 licenses in the APA 2010 Round, which includes 2 licenses where the Company is an operator for the first time.

Both the operated licenses are located in the Norwegian Sea.

Spring Energy is very pleased with all the awards and this is another important step forward in the growth of the Company.

Following this award, Spring Energy now holds a total of 24 licenses on the NCS.

About Spring Energy:

Spring Energy is a privately owned Norwegian oil and gas exploration, development and production company focused on the mature and immature areas of the Norwegian Continental Shelf.

The Company’s headquarters are in Oslo where it has a team of 29 highly experienced management and staff. The team has both high level technical and commercial competence and an excellent network of industry contacts which combine to give it a commercial edge.

Since its startup in 2008, the Company has already enjoyed considerable success. Through a combination of successful applications for acreage in NCS licensing rounds, acquisitions, exploration, swapping of assets and active management of the asset portfolio, Spring Energy has established a well balanced combination of quality exploration, appraisal and production assets.

With a consistent and focused strategy, the Company is rapidly growing towards its vision of becoming a highly profitable, fully integrated exploration, development and production company.

The Company is backed by HitecVision, a private equity company with a track record of making sound strategic investments in the Norwegian oil and gas sector.

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Source: Spring Energy, January  19, 2011;