Spike, Tullow realign interests offshore Norway

Spike Exploration Holding has agreed on an acreage swap with Tullow Oil offshore Norway.

Apr 29th, 2014

Offshore staff

STAVANGER, NorwaySpike Exploration Holding has agreed on an acreage swap with Tullow Oil offshore Norway.

Spike will take 15% of Tullow’s share of license PL722 in the Hoop area of theBarents Sea, which is operated by ENI. The prospectivity has been heightened following last year’s nearby Wisting oil discovery.

The current focus is on maturing and ranking prospects. A decision on whether to drill is due by June 21, 2016.

PL494/B/C in the southern Norwegian North Sea, operated by Det norske oljeselskap, contains the Heimdalshøe prospect, which should be drilled this summer. Spike will give Tullow 15% of its interest in this license.

“Following participation in the Barents Sea southeast seismic group shoot, purchase of multi-client seismic data and the acquisition of an interest in PL230, Spike is now increasing its Barents Sea presence further,” said Bjørn Inge Tønnessen, CEO of Spike Exploration.

04/29/2014

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