Bridge Energy ASA Bridge Energy Asa: Pl511 Mjøsa Exploration Well Spudded
April 15 2013 - 1:55AM
UK Regulatory
TIDMBRIDGE
15(th) April 2013
Bridge Energy ASA
("Bridge", "Group" or "the Company")
PL511 Mjøsa exploration well spudded
Bridge, the Oslo Børs and AIM listed oil and gas exploration and
production company (OSE: BRIDGE/AIM: BRDG.L), is pleased to announce
that the drilling of exploration well 6406/6-3 has commenced.
The well will target the Mjøsa gas prospect, which is located 10 km
northeast of the Linnorm discovery within the Haltenbanken Area of the
Norwegian Sea. The well is being drilled by the Transocean Arctic
semi-submersible rig and is targeting Lower and Middle Jurassic
reservoirs. The estimated unrisked mean potential targeted by the well
is 14 mmboe net to Bridge.
Bridge has a 7.5% interest in the well. Wintershall is the operator with
25%, and the other partners are Maersk (25%), Petoro (20%), VNG (12.5%),
and Tullow (10%).
More details of the Mjøsa prospect can be found in the Corporate
Presentation March 2013 and our most recent Reserves and Resources
Report at http://www.bridge-energy.com/investor.
- Ends -
For further information, please contact:
Bridge Energy
Tom Reynolds, Chief Executive
tom.reynolds@bridge-energy.com
Aberdeen +44 1224 659 120
Alfred Kjemperud, MD Bridge Energy Norge
Alfred.kjemperud@bridge-energy.com
Norway +47 66 77 96 30
Cenkos Securities
Jon Fitzpatrick +44 207 397 1951
Neil McDonald +44 131 220 9771
FTI Consulting
Edward Westropp/Natalia Erikssen +44 20 7831 3113
Edward.Westropp@fticonsulting.com
Statutory guidance statements
This information is subject to disclosure requirements pursuant to
section 5-12 of the Norwegian Securities Trading Act.
Notes to Editors
Bridge Energy is an oil and gas exploration and production company which
holds production licences in the UK (North Sea) Continental Shelf and
exploration assets in both the UK and Norwegian Continental Shelves. The
company is listed on the Oslo stock exchange (OSE: BRIDGE) and the
London stock exchange (AIM: BRDG.L).
The information contained in this announcement has been reviewed and
approved by Dr Alfred Kjemperud, Managing Director, Bridge Energy Norge
AS. Alfred holds a PhD in Geology from The University of Oslo and has
been a practising Petroleum Geologist for over 30 years. He has compiled,
read and approved the technical disclosure in this regulatory
announcement.
The technical disclosure in this announcement and the estimates are
based on the definitions and guidelines set out in the 2007 Petroleum
Resources Management System prepared by the Oil and Gas Reserves
Committee of the Society of Petroleum Engineers and reviewed and jointly
sponsored by the World Petroleum Council (WPC), the American Association
of Petroleum Geologists (AAPG) and the Society of Petroleum Evaluation
Engineers (SPEE).These definitions and guidelines can be found on the
SPE website at www.spe.org.
The Company has a significant number of licences both within the UK and
NCS, including several operatorships. Bridge has drilled 17 exploration
and appraisal wells, including ten discoveries.
Underpinned by existing production, Bridge boasts a high impact
exploration portfolio with a strong inventory of undeveloped gas
discoveries which represents a sustainable business platform for
production and exploration growth in the North Sea.
For more information please visit: www.bridge-energy.com
This announcement is distributed by Thomson Reuters on behalf of Thomson
Reuters clients.
The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other
applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the
information contained therein.
Source: Bridge Energy ASA via Thomson Reuters ONE
HUG#1692915
http://www.bridge-energy.no/
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