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Spring Energy: Successful Bream delineation wells

Drilling of delineation well 17/12-4 and two horizontal sidetracks; 4A and 4B on the Bream oil discovery have been successfully completed.

Bream is located within license PL 407, approximately 50 kilometres North West of the Yme field in the North Sea, and was discovered in 1972.

The main objective of the wells was to establish oil and reservoir properties as well as fluid contacts for the Middle Jurassic Bryne Formation. All three well tracks proved oil in the Bryne Formation in sandstones with good reservoir properties.

The purpose of the first sidetrack was to establish reservoir properties and sand connectivity in the Western part of the Bream structure. A production test was performed from a limited reservoir interval above the heel in the first horizontal sidetrack, and produced oil at a maximum oil rate of 2500 barrels per day. The purpose of the second sidetrack was to establish reservoir properties and sand connectivity in the Eastern part of the Bream structure.

The size of the Bream discovery is estimated to between 6 and 10 million standard cubic meters (38 - 63 MB) of recoverable oil.

BG Norge operated the well on behalf of the PL 407 license group using the Seadrill West Alpha semi-submersible drilling rig. The well will now be permanently plugged and abandoned.

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

The PL 407 license will now interpret the results of the delineation wells and evaluate various development options for the Bream discovery. Provided a commercially robust development solution is found, the license will work towards submitting a PDO for Bream next year.

Spring Energy will also participate in an exploration well on the Gardrofa prospect in neighboring license PL 406 (Spring Energy 20 percent working interest) next year. A successful Gardrofa well would add to the commercial robustness of a potential area development solution that could incorporate Bream, Gardrofa and the 18/10-1 oil discovery (located in PL 406).