Spring Energy Nominates New Chairman of the Board

The Board of Spring Energy has announced the nomination of Thorleif Enger as new Chairman of the Board of Spring Energy Norway AS.

Thorleif Enger was until recently the CEO of Yara International ASA. Prior to this, he has more than 15 years of experience from the oil industry. Enger is currently a Board member of Marine Harvest ASA, and was the Chairman of Telenor ASA from 2003 until 2007.

"We are very pleased to have Mr. Enger with us. He brings with him a wealth of knowledge and experience that will be very important for Spring Energy in the time to come. His background from Norsk Hydro and the oil industry will be very valuable," said Roar Tessem, CEO of Spring Energy Norway AS.

"I am excited about this opportunity, and I look forward to again work with the oil industry. Spring Energy has everything in place to be a highly successful E&P company; assets with high potential, backed by long term and solid investors, and with a highly qualified staff I look forward to be working with," commented Thorleif Enger.

Thorleif Enger will succeed Gunnar Halvorsen from HitecVision as the Chairman of the Board of Spring Energy. Gunnar Halvorsen will continue as Board member.

An Extraordinary General meeting will be convened in November 2008 to approve the appointment. The proposal to elect Enger as new Chairman is supported by Spring Energy's largest shareholders and support is already secured from a majority of the general meeting.



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