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BRDG Bridge Energy

152.50
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Bridge Energy LSE:BRDG London Ordinary Share NO0010566235 ORD NOK1 (DI)
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 152.50 - 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Bridge Energy Share Discussion Threads

Showing 326 to 346 of 550 messages
Chat Pages: 22  21  20  19  18  17  16  15  14  13  12  11  Older
DateSubjectAuthorDiscuss
10/4/2013
08:59
thanks rogerlin. I was also thinking that Hercules is on the West of the high. Big prospects with current low cos but any discovery nearby would reduce that I would think.
I note that Detnorske's AGM is next Wednesday. Flying sparks but hopefully a little more info on PL457?

bomfin
08/4/2013
21:02
Yeh! And there is plenty oil stuck up against the high and we havn't even drilled there yet on pl457 having appraised Ivar Aasen instead!. imho
bomfin
08/4/2013
17:01
The map now shows continuous green along the western edge of the Utsira high from Luno II in the south up to Ivar Aasen and Asha, then a gap (the northern half of PL457), then Hanz. Tempting to think that there might be some green in the gap too.
rogerlin
08/4/2013
15:08
Very nice find by Lundin in deed. The find seems to be in the upper bracket of what the geologists expected, which may indicate as much as 300 mboe, if so it would be the biggest find in a decade, excluding Sverdrup. In the announcement they say the find differs from Grieg and Sverdrup, so I am unsure what relevance it will hold for Bridge, but it is at the very least not negative. The barrels and prospects Bridge has in PL457 increases in value by the day, hopefully it will be reflected in the share price sooner rather than later. Mjøsa should be spudding very soon also, adding a bit more excitement.
mattoil
08/4/2013
08:13
From Detnor reserves report 2012.

In late 2012, the adjacent PL 457 to the east, drilled an appraisal well proving an extension of the Ivar Aasen
field into PL 457. The results from the well were positive, with a thicker reservoir section, better reservoir
quality and a deeper oil-water contact than expected. In addition no gas cap was penetrated. The well results
came in too late to impact the PDO reserve estimates. A small part of Ivar Aasen may also extend into the
neighbouring PL 338 to the south. Commercial negotiations have been initiated with both PL457 and PL 338
with the objective to regulate these circumstances.

* * * *

Very seldom do you get a company talking so well of a discovery in a neighbouring licence where they don't have an interest.

I think the significance of no gas cap adds to the hoped for prospectivity. The suggestion being that there is more oil and a gas cap updip. imho dyor

bomfin
08/4/2013
07:16
page 31. Hopefully today's Luno II discovery augurs well for Amol?
bomfin
06/4/2013
21:32
thanks rogerlin. Sounds like a right rammy!
bomfin
06/4/2013
20:10
The Bridge RNS about the agreement with the Ivar Aasen group says that the PDO for the Ivar Aasen field is "currently pending approval, which is expected to be granted by the Norwegian Parliament prior to 30 June 2013". Is it normal to place contracts before approval? Could the approval not be granted?
rogerlin
05/4/2013
22:01
Noticed some Norwegian reports today. Massive upheaval and Detnorske left with a board that won't be wanting to pay their competition to develop Ivar Aasen. My opinion is they will be sellers there which would give an opening to someone else to get involved in both blocks. e.g buying Detnorske share in PL001 and Bridge share in PL457. imho dyor
bomfin
05/4/2013
11:33
For those of you who found the infighting in the Det Norske interesting, more news came out today. Røkke who had asked for a EGM a while ago used the opportunity to fire half the board and of course get himself elected as well. It also became clear that Bayern Gas and Statoil wanted to build in Singapore while the board and administration of Det Norske wanted it built at Kværner (Røkke's company) in Norway. Somehow this got overturned at the last board meeting, where Røkke did not have voting rights. In either case, major turnaround in the boardroom and I guess we can expect later contracts to end up in Norway.
mattoil
01/4/2013
21:01
Agreed. Possibly a lot more to come from PL457. And I reckon they've already found the top end of those reserves estimates. imho dyor
bomfin
01/4/2013
13:06
Listened to the results presentation again.
A few points if I may.
1. They were encouraged to find an agreement with the Ivar Aasen licence group.
(hand of government I believe)
2. They arn't certain that what they've found is the same field as Ivar Aasen. A few comments in webcast suggest that to me.
3. My opinion is that the 30 million barrels (lower figure) is still in there as a salve to those who prefer to think it's part of Ivar Aasen.
4. The big clue is stating that the sands thicken to the East. That I believe is upside on the 100 million barrel figure. Reasoning behind that is that I think government have been consulted on all releases so far and they are seeking agreement between the licence holders for joint development of Ivar Aasen at this stage. I don't believe they change understanding quickly and are still shooting at the same goal even though the goalposts might have moved substantially. imho dyor

bomfin
29/3/2013
12:14
I think the area is full of oil in lots of formations. Could be at Asha e.g that there are two producing formations overlying each other in parts but with different aerial extent? (speculative)
All of these wells are near to the first ever awarded licence offshore Norway. From the outset it was thought to be a very prospective area. I think it was Esso, missed the giant sverdrup field by about 1km with a dry well and I think they gave up! At that time though they weren't interested in anything under 100 million barrels. Different days now and anything over 50 million barrels is considered a decent discovery. imho

bomfin
28/3/2013
19:18
A very apt quote Bomfin.

I didn't realize that PL167 (the licence to the north east of PL457) now Statoil 80%, Lundin 20%, has quite a long history. Several wells going back to 1993, mostly small gas/condensate finds in Eocene Grid and Paleocene Heimdal but 16/1-5 (Det norske in 1998) encountered both Upper Jurassic Heather and middle Jurassic Hugin and "oil shows were recorded in the upper 3 meters of the Heather formation" (NPD fact pages). In the latest Bridge map of the Asha one of its arms does just go into PL167. Can't see exactly where the 16/1-5 well was though, but maybe these Jurassic formations extend into the upper part of PL457?

rogerlin
28/3/2013
10:22
I'd missed this previously.

The development solution: The Ivar Aasen field is developed by means of a manned production platform located above the Ivar Aasen reservoir and a subsea installation on Hanz. West Cable is drained through a well drilled from the Ivar Aasen platform.

If they can reach West Cable from the platform I reckon they can reach the Ivar Aasen extension from the platform also. imho dyor

bomfin
28/3/2013
09:40
"He who does not look, cannot find. He who does not dare, cannot win." This is one of many quotes from dialect researcher and poet Ivar Aasen. And it is one that is particularly apt in relation to the oil industry. You have to search and find before you can develop, and you must dare if you are to succeed.

From the Detnorske Annual Report :-)

bomfin
27/3/2013
09:33
Not sure about that polyps. If you'd like to give a brief assessment with some figures I'd give it a read. Outside of Bridge I think Lundin and Detnorkse are both undervalued. This Utsira high area is prolific with hardly a dry well! I think the first for about 20 wells being Lundin's last one. imho dyor
bomfin
27/3/2013
08:53
Have any of you looked at Iona Energy? They are about to get a massive cashflow bonanza from Huntington coming online and then need to develop Orlando. Undervalued as well in my opinion.
polyps
26/3/2013
18:37
Drilling permit issued for Mjosa
bomfin
26/3/2013
17:05
Thanks mattoil. Stephen Greer seemed so bullish about the Contendor well at Oilbarrel at beginning of February. I also thought the well was being choked back. The Taqa ops guy gave a presentation in Aberdeen about the discovery to the SPE. I consider it all a bit strange. imho
bomfin
26/3/2013
16:55
Yeah, I was at the presentation.

I believe the upside potential refers to other possible wells in the license, more specifically Karloch. If that well is drilled and successful, Bridge will hold a 6.5% interest I believe. Previous numbers I have heard outlines Cormorant East to give Bridge about 200 barrels a day, after TAQA is repaid certain expenses.

mattoil
Chat Pages: 22  21  20  19  18  17  16  15  14  13  12  11  Older

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