Cash springboard for Spring

摘要

HitecVision has agreed a deal to provide US 120m in equity financing to Spring Energy Norway,a new-start oil and gas company.Oslo-based Spring Energy will be chasing growth opportunities in both mature and immature areas on the Norwegian Continental Shelf.Spring aims to be qualified as a licence partner on the NCS before mid 2008 and as an operator during 2010,actively participating in exploration,appraisal and development projects as well as acquiring acreage in the asset market.