Norway's Spring Moves Into Profit

摘要

Norwegian independent Spring Energy published its annual report and results Friday. During 2009, it added 11 more licenses, ending the year with 20 licenses, including a producing asset. Spring Energy also recorded significant exploration success during 2009 with two licenses: in PL 378 and PL 375 oil and gas discoveries were made in the Grosbeak and Beta prospects. Also, the Bream discovery in PL 407 was successfully appraised. At year-end, Spring had booked contingent resources of 30.9 million barrels of oil equivalent, up 197% from its 10.4 million Boe a year earlier