Wintershall, Spring Energy increase North Sea interests

Wintershall Norge has acquired a 5% working interest in PL 378 from Spring Energy.

Offshore staff

KASSEL, Germany -- Wintershall Norge has acquired a 5% working interest in PL 378 from Spring Energy. Following Authority approval of the transaction, Wintershall will own a 45% working interest in the license.

Concurrently, Spring Energy is acquiring a 2.5% interest in the Brage field from Wintershall Norge. Spring will also farm into five exploration licenses with working interests ranging from 10% to 15%. Wintershall is planning well activities for two of these licenses in 2010.

The PL 378 partner interests, following closing of this transaction, are Wintershall Norge ASA with 45%, Norwegian Energy Co. with 20%, Premier Oil Norge with 20%, and Spring Energy Norway AS with 15%.

11/19/2009

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