Spring Energy says that Dr Robert Arnott and Mr Pål Reiulf Olsen were appointed as Board Members of the Company at the recent Extraordinary General Meeting, held on 19 February 2010.

Dr Arnott (age 52) is a Geologist and Energy Economist with over 25 years experience of working in the oil industry. Most recently he served as Head of the Advisory Board of DNO ASA and Chairman of DNO UK Ltd from 2002 to 2008. He joined the industry as an Exploration Geologist with Shell International, following which he spent 10 years working as an oil sector investment analyst with a number of investment banks in the City of London, including SG Warburg, Goldman Sachs and Morgan Stanley. Dr Arnott was also a Senior Research Fellow with the Oxford Institute for Energy Studies for 5 years until 2006.

Mr Olsen (age 50) has over 20 years experience in the oil and gas sector and since November 2009 has been a Senior Partner at HitecVision. Most recently, he was the Director of Corporate Finance at First Securities ASA between 1995 and 2008, where he was responsible for numerous IPO and equity issues, and also managed a number of mergers and acquisitions. He joined the industry as a Senior Auditor for Arthur Anderson and then Christiana Bank before moving into industry with Aker ASA as the Chief Controller and head of strategic planning.

Mr Mike Hill has resigned as a Director of the Company. Mr Hill has been a Director of the Company since its formation and played a significant part in Spring Energy's development since its formation and has been of immense assistance to the Company throughout his tenure.

Tags: Spring Energy