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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 251 to 275 of 550 messages
Chat Pages: 22  21  20  19  18  17  16  15  14  13  12  11  Older
DateSubjectAuthorDiscuss
10/3/2013
15:16
Still way to cheap and will top up this week
robizm
10/3/2013
15:02
Re the Garantiana discovery from the 4th quarter 2012 report.

• This commercial discovery also de-risks further significant
upside potential in the licence area and there are several
independent prospects within the immediate vicinity,
increasing the likelihood of new discoveries also being
commercial
• Bridge has a 20% working interest in this licence and is
currently discussing additional exploration prospect targets
with the operator and the rest of the joint venture party.

So! stated as a 'commercial discovery' How much in the share price for this one?

bomfin
10/3/2013
12:36
Really excellent to see Detnor stating the same figures for pl457 as the pl457 licence holders. imho
bomfin
08/3/2013
12:35
listened to conference call.

A couple of things of note I think.

They will drill Amol later this year and can potentially appraise the East of where they map Asha in their block by sidetracking this exploration well.

Their default position is to see Asha through to development but would divest/swap or farm down if the right offer was made.

Tom Reynolds considers there is very little in the share price for Asha even at current share price.

All imho dyor

bomfin
08/3/2013
11:07
I note the Pareto Securities note mentions the tax balances.

From about us page of bridge website.

As of 30 September 2012 the accumulated tax pool is estimated as approximately $215 million

They don't have to go to development at Asha they could swap for UK producing assets from say 'Wintershall' or OMV who bought 20% in Edward Greig recently.

Then that $215 million (£140 million) tax asset looks very real indeed. Current market cap just over £80 million. imho dyor

bomfin
08/3/2013
11:00
Ah, didn't realise it was source Winterhall. Thanks, Must have been dreaming!
bomfin
08/3/2013
10:54
Bomfin, the "new Hugin" map (source Wintershall) is on page 54 of the document you just posted.

I didn't know before but found that the NPD website has an option called Geology which has some diagrams of the extent of various plays (low scale mind you) and a stratigraphic chart which is helpful (to me at least) in recalling these various strata.

rogerlin
08/3/2013
10:46
I see from reserves report that Garantiana risk factor for commerciality is the same as Asha at 80% chance of commerciality.


With Asha looking extremely like it's going to become part of Ivar Aasen developmennt I guess it moves to 100% but 80% for Garantiana at this stage shows a lot of confidence. imho dyor

bomfin
08/3/2013
09:02
Very quiet in UK. More trading in Norway where Bridge were recently given an award as explorer of the year. You'd think they must have found something decent to be given that award. Unless the company giving the awards want to look like muppets? Currently 11.50 NOK/share to sell in Norway which is about 133p/share.
I think it's a good sign that all partners are in agreement which so early on suggests that there isnt much doubt what has been found? unless ofcourse the agreement is based around P10 (which wouldn't surprise me) with provisos for additional resources. Norwegian government does tend to get involved and speed these things up in the interests of the country and they've been pretty quick in getting this far already. imho dyor

bomfin
08/3/2013
08:50
Frenzied trading here today I see. Volume still 0 so far.
rogerlin
08/3/2013
07:59
We were trailing Olso before todays news with shares closing at 128p to sell yesterday.
bomfin
08/3/2013
07:58
That sounds like a plan Robizm

Comment from Tom Reynolds suggests they've got over 13 million barrels net to Bridge already established on the licence. Oil included within a planned development is worth at least £5/barrel. imho dyor

bomfin
08/3/2013
07:43
Excellent news today and if the price does not rise much will buy more
robizm
07/3/2013
23:53
Bridge Energy ASA (BRIDGE) rose to a three- month high in Oslo trading as Pareto Securities ASA said the Norwegian oil company may be a takeover candidate due to the low price of its shares compared with the value of its assets.

The shares gained as much as 4.2 percent to 11.15 kroner, the highest intraday level since Dec. 3 as of 11:10 a.m. local time. Trading volumes were almost three times the three-month daily average for the Nesbru-based company.

"We think Bridge is a likely takeover candidate this year due to a combination of low pricing compared to core asset values and solid exploration track record," Pareto said in an e-mailed note to clients today.

Last week's 203 million-pound ($308-million) bid by Ithaca Energy Inc. for Valiant Petroleum Plc "highlighted the value of tax loss positions in the U.K. sector" of the North Sea, Pareto said. Applying the same pricing to Bridge's tax-loss position there implies a value of 9 kroner per share, Pareto said.

That's before the value of the company's producing assets, the Garantiana and Asha finds and Bridge's cash are added in, worth at least another 14 kroner a share, said the broker, which has a buy rating and 18 kroner price target on the stock.

Bridge Energy, which has assets in the U.K. and Norwegian areas of the North Sea, is seeking to boost production to take advantage of oil prices which have climbed 22 percent since the end of 2009. The company had proven and probable developed reserves of 3.26 million barrels of oil equivalent as of Dec. 31, up from 2.67 million a year earlier, it said Feb. 26.

Shares in the Bridge Energy have gained 13 percent in the last 12 months, giving the company a market value of 707 million kroner ($124 million).

mattoil
07/3/2013
19:07
I agree that BRDG is undervalued. Also think there will be companies wanting to get a hold of the PL457 20%. Bridge though won't be wanting to sell out of there until it is fully appraised. 400 million barrels or even higher recoverable on this block isn't impossible. imho dyor Where the sands thicken against the Utsira high on the eastern side Sverdrup is over a billion barrels recoverable. They won't want to sell out until they drill that. Equally others may have their eye on this potential prize and may bid for the company if Bridge won't sell PL457. Very happy to be holding here and happy to do so for a few years to see what is around Asha and Garantiana. imho dyor
bomfin
07/3/2013
16:57
Yes, saw the comment on unit discussions. Very positive, and potentially a very awesome trigger. Moving resources up in the development chain will immediately be reflected in the share price, as well as make the company even more attractive for firms looking to acquire a bigger stake in the North Sea. Given the potential worth of Bridge's finds, I think it would be more attractive for a suitor to by the whole company vs. just the current barrels. Similar deals in the area has put a price on each barrel around USD 8,-, with a development plan secured, there may be an upside to that. Assuming not, Asha alone is worth about 80% of the current share price. Just my take on it anyway.

DYOR

mattoil
07/3/2013
14:55
allthough the PL457 slide page title is more positive still.

significant discovery & greater prospectivity

And says unit disussions with neighbouring licence in process.

bomfin
07/3/2013
14:22
Where can I see Wintershall's map?

I see Bridge presented again yesterday. Looks similar to the results presentation.

bomfin
05/3/2013
18:45
Wintershall has a stake in Lundin's license right under Asha. Lundin has painted in a similar map to the one Wintershall presented...
mattoil
05/3/2013
15:45
The "new Hugin map" for PL 457 in the AGR TRACS International reserves and resources report, which showed the Hugin apparently extending into the north of PL457 (which has disappeared from the more recent polygon), was I see attributed to Wintershall in the caption below it. Could it be true as they may know more than anyone else about it?

Asha has Wintershall 40%, E.ON Ruhrgas 20%, VNG 20%, Bridge 20% while Ivar Aasen is Detnorske 35%, Statoil 50%, Bayerngas 15% so no overlap at all.

rogerlin
05/3/2013
13:24
Thanks Mattoil. Apologies for misinformation.
bomfin
05/3/2013
13:21
Q3 results:
On 27 Aug 2012, the company announced that reached
agreement with North Sea Ventures Limited ("NSV")
to provide a loan facility to NSV to support its activities
including the purchase by NSV of a 50% working interest
in the Lowlander discovery. The loan is an interest bearing,
senior, secured facility of up to £1.6 million. The terms
of the arrangement provides Bridge with an option
to acquire the entire share capital of NSV, including
the Lowlander working interest.Taking account of the
quality of available opportunities for 2013 and 2014,
the Company has decided to focus its resources on
progressing its existing portfolio and has allowed the
option to lapse un-exercised.

mattoil
05/3/2013
13:18
I cannot remember where I heard or saw it, but I definitely heard that the option had a deadline which has now passed. Reason for letting it pass as I understood was Bridge's exploration success, limiting the need for that kind of new investments. Its also been taken out of the latest presentations, which speaks for it self I guess.
mattoil
05/3/2013
12:46
Where did you see that Mattoil? They only got it August last year.
bomfin
05/3/2013
11:56
I think Bridge has relinquished that right, if I remember correctly.
mattoil
Chat Pages: 22  21  20  19  18  17  16  15  14  13  12  11  Older

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