Spring Energy has announced the sale of an asset package containing; 15 percent in PL 378 (containing the Grosbeak discovery), 20 percent in PL 375 (containing the Beta discovery) and 20 percent in PL 551 to Talisman Energy Norge AS.
The asset package is priced between USD 114.5 million and USD 129.5 million pending certain near term milestones.
As part of the transaction, Talisman will also take over Spring Energy’s remaining carry commitments in the same licenses.
The asset sale is in line with Spring Energy´s strategy of adding and monetizing value whilst at the same time continuing to build a portfolio of attractive assets. Following the sale, Spring Energy will be in a considerably stronger financial position to accelerate and expand its growth plan.
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