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Spike exploration acquires 10% working interest in PL 299 AND PL 590

Spike Exploration Holding AS (Spike) has today signed an agreement with North Energy ASA (North) to acquire a 10% interest in both PL299 and PL590.

PL299 is located approximately 15 km east of the Gyda field in the southern part of the Norwegian North Sea. The licence contains the Frode prospect, where a well is due to be spudded shortly. PL590 is located in the Haltenbanken area, approximately 15 km west of the Åsgard field. The partnership for PL299 will after this agreement consist of Talisman Energy Norge AS (31.5% and operator), North Energy ASA (10%), Capricorn Norge AS (formerly Agora) (28.5%), DONG E&P Norge AS (20%) and Spike Exploration Holding AS (10%).
The partnership for PL590 will after this agreement consist of North Energy ASA (30% and operator), Faroe Petroleum Norge AS (30%), Wintershall Norge AS (30%) and Spike Exploration Holding AS (10%).