Edge Completes Second Saskatchewan Well in Spring Campaign

Edge Resources Inc. has finished drilling the second well of the Company's Spring drilling program in Primate, Saskatchewan. The well was successfully drilled and cased without incident and is now being prepared for production.

The horizontal well was drilled into a new formation and cased with a slotted liner in 1,624 feet (495 meters) of horizontal pay. Completion and equipping operations will commence immediately and continue during breakup. The rig was released to an all-weather rack site as Spring break-up conditions would not allow the rig to be moved to another drilling location.

Brad Nichol, President and CEO of Edge commented, "We are very pleased that the drilling of our first horizontal well in a new horizon has gone so smoothly and quickly. I must credit our operations and drilling team who utilized their many years of experience and planned this operation meticulously. With continuous oil shows throughout the entire 495 meters of horizontal leg, we are very keen to start producing this well. Given that breakup is almost upon us, we are taking the extra step of building a permanent road so that the well can produce without interruption throughout break-up."

"We anticipate that successful production testing will support several additional horizontal drilling locations, specifically targeting the new horizon. We certainly have the undeveloped land-base to support a large program and are eager to get started," Nichol added.

The Company has a 100% working interest in 20 sections (12,800 acres) of land in Primate, Saskatchewan.

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Tullow Completes Acquisition of Spring Energy Norway

Tullow Oil announced Tuesday Spring Energy Norway CEO Roar Tessem is to become managing director of Tullow's Norwegian companies now that Tullow has completed its acquisition of Spring.

Tullow said the acquisition has already brought success for Tullow when last week Spring was awarded 13 licenses in Norway's 2012 Awards in Predefined Areas licensing round. Four of these licenses will be operated by the company.

The new licenses are highly complementary and mostly adjacent to current acreage held. The new acreage is located in all three areas of the highly prospective Norwegian Continental Shelf: the North Sea, the Norwegian Sea and the Barents Sea.

Tullow is also awaiting the results of applications both it and Spring made in Norway's 22nd licensing round.

Tullow Chief Executive Aidan Heavey commented in a statement:

"I am delighted to welcome our new colleagues to Tullow and I look forward to working with them. The quality of their business and staff has been underlined by their exceptional performance in Norway's most recent licensing round in which over 40 Norwegian and international companies participated."

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