Point Resources is pleased to announce that the merger between Core Energy, Spike Exploration and Pure E&P has been completed, and the new company Point Resources is formally established and operative.

Point Resources is a new full-profile exploration and production company on the Norwegian Continental Shelf.

The Company is a robust entity able to handle both the challenges of the current market situation and take full advantage of the opportunities. The Company already has a strong licence portfolio, including a production base of about 9,000 barrels of oil equivalent per day; significant holdings in several discoveries that are expected to be developed over the coming years: Pil (45%), Garantiana (30%), and Snilehorn (17.5%), as well as an interesting exploration portfolio.