Spring Energy: Appraisal well started on PL 407

18 June 2009.

Drilling of the Bream appraisal well in PL 407, 50 km Northwest of the Yme Field in the North Sea has started. Dependent upon the results of the vertical wellbore, a horizontal sidetrack could be drilled and a DST performed.

The Bream appraisal well is aimed at determining the commerciality of the Bream oil discovery, and provided positive well results, the license group is targeting a PDO in 2010.

The well is operated by BG on behalf of the PL 407 license group using the rig West Alpha.

Spring Energy has a 20% working interest in the license.