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Promising Discovery for Spike Exploration

Spike Exploration is pleased to announce a promising discovery in the Pil prospect in the Norwegian Sea (Production License 586).

The exploration well encountered a gross 226m hydrocarbon-bearing reservoir section with approximately 135m of oil and 91m of gas.

Preliminary results based on extensive coring, wireline logs and pressure data show that the well has encountered oil and gas in reservoir sands with a very high net to gross ratio and excellent reservoir properties. PL586 is operated by VNG Norge AS (30%) with partners Spike Exploration Holding AS (30%), Faroe Petroleum Norge AS (25%) and Rocksource Exploration Norway AS (15%).