Bridge Energy Share Discussion Threads

[khitchen] 09/10/2012 14:10

sportbilly
well done, i got in at 132p & 134p
sounds like a good thing

[sportbilly1976] 09/10/2012 14:08

yes, got in here last week at 127

[khitchen] 09/10/2012 13:42

sportbilly
thankyou for that info, are you in them ?

[sportbilly1976] 09/10/2012 10:41

khitchen,

on the first day (27th Sept) they opened at 118/122 and closed at 127/133.

[khitchen] 08/10/2012 15:30

what price were these at the end of the first day when they listed, does anyone know

[sportbilly1976] 05/10/2012 11:07

140k v 14k buys/sells so far with the delayed ones coming through...

[sportbilly1976] 05/10/2012 10:53

A/C TYPE NAME COUNTRY HOLDING OF SHARES OWNERSHIP INTEREST
1 NOM STATE STREET BANK AND TRUST CO. *) UNITED STATES 17,849,284 28.1 %
2 LIME ROCK PARTNERS III UNITED STATES 15,944,740 25.1 %
3 STOREBRAND KAPITALFORVALTNING NORWAY 4,033,557 6.4 %
4 NOM CITIBANK NA NEW YORK BRANCH UNITED STATES 3,913,337 6.2 %
5 KLP NORWAY 3,043,967 4.8 %
6 NOM RBC INVESTOR SERVICES TRUST UNITED KINGDOM 2,147,708 3.4 %
7 JUNIOR OILS FUND UNITED KINGDOM 1,000,000 1.6 %
8 BERGEN KOMMUNALE PENSJONSKASSE NORWAY 995,000 1.6 %
9 NOM SHB STOCKHOLM CLIENTS ACCOUNT NORWAY 899,740 1.4 %
10 NOM MORGAN STANLEY & CO LLC UNITED STATES 724,287 1.1 %
11 DNB NOR SMB NORWAY 700,000 1.1 %
12 MP PENSJON PK NORWAY 650,000 1.0 %
13 NOM CIBC WORLD MARKETS INC. CANADA 542,199 0.9 %
14 OM HOLDING AS NORWAY 420,744 0.7 %
15 NOM JP MORGAN CHASE BANK UNITED KINGDOM 400,739 0.6 %
16 LANDKREDITT NORGE NORWAY 370,000 0.6 %
17 VPF NORDEA SMB NORWAY 300,000 0.5 %
18 JUSTNES REDERI AS NORWAY 287,062 0.5 %
19 KAMPEN INVEST AS NORWAY 275,000 0.4 %
20 SKARET INVEST AS NORWAY 265,360 0.4 %
OTHERS 8,666,445 13.7 %
Total number of shares 63,429,169 100.0 %

Table above as at 25/09/12 from their website - Not many around in free float

[sportbilly1976] 05/10/2012 10:07

picklers out already :)

1942 bought yesterday at 128.4
5710 bought this am at 130.2

both just sold at 132.25

[topinfo] 05/10/2012 09:43

It is and no stamp duty too which is a bonus as well.

Looking at the amount of buys this morning others now hearing about this Gem of an oiler with a very small mkt cap given the facts of the company. Looks very good for a move towards 140p-150p short term IMO.

[sportbilly1976] 05/10/2012 09:20

hope,

It should be as it is listed on both the LSe and the Norwegian exchange

[hope67] 05/10/2012 08:20

Is this Isable?

[mattoil] 05/10/2012 07:46

Note: Bridge estimates that at an oil price of $110/bbl, it
will receive over $100/bbl after tax for production during 2012-2014 as a result
of Bridge's accumulated tax pool.

[topinfo] 05/10/2012 07:09

Good Rns too this am. You get the feeling these Guys are going to be very busy over the coming weeks/months dont you. Now bring on the Oil Strike news.

Bridge Energy ASA Bridge Energy ASA: Completion of the Boa Field Acquisition
Print
Alert



TIDMBRDG

5(th )October 2012

Bridge Energy ASA

("Bridge", "Group" or "the Company")

Bridge Energy Announces Completion of Boa Field Acquisition

Bridge, the AIM and Oslo Axess listed oil and gas exploration and production
company (OAX: BRIDGE/ AIM: BRDG), is pleased to announce that it has completed
the acquisition of a 1.55% working interest in the producing Boa field from OMV
(U.K.) Limited for an adjusted consideration of $18.1m (the "transaction") with
an effective date of 1 January 2012. The acquisition includes a transfer of
around 40,000 barrels of oil stock which will be sold following completion for
an estimated value of around $4.4 million (based on prevailing prices of around
$110/bbl).The acquisition is being funded through a combination of current cash
and Bridge's existing reserve base lending facility. The acquisition increases
Group 2012 production by 230 bopd and 0.2 mcfpd sales gas, which is equivalent
to 260 boepd combined.

The Boa field
The unitised Boa field extends across the UK/Norway median line and lies 88.65%
in Norway Block 24/6 and 11.35% in UK Blocks 9/15a and 9/15b. The Boa reservoir
is contained within a high-quality upper Heimdal sand and comprises a light oil
rim with an overlying gas cap and very strong natural aquifer drive.

The field was developed in 2008 as part of the wider Alvheim area development
with three subsea development wells tied back to the Alvheim FPSO operated by
Marathon Oil Norge AS. Oil is then shipped by shuttle tanker, while gas is
exported into the UK market via the Beryl SAGE system. The Boa field facilities
and the Alvheim FPSO has an excellent utilisation record with typical uptime
above 90%.

Boa field production
The field had produced around 25 million barrels of oil up to the effective date
of the acquisition (1(st) January 2012) and is currently producing 15,000 bopd
gross. The production performance of the field has exceeded expectation and
recovery estimates have continued to increase during the field life. Potential
for further infill drilling in the field has been identified as well as the
development of the field gas cap.

In addition to Alvheim, the FPSO processes oil from a number of other fields
which resulted in a combined throughput for 2011 in excess of 140,000 boe/d.
This high throughput results in very low unit operating costs for the Boa field.

The Boa working interest adds 0.5million barrels of 2P developed producing
reserves to Bridge. The field delivers low maintenance oil production with a
high operating margin. Bridge estimates that at an oil price of $110/bbl, it
will receive over $100/bbl after tax for production during 2012-2014 as a result
of Bridge's accumulated tax pool. The Boa field has low exposure to
decommissioning liabilities and is expected to produce until 2022.

Bridge's CEO, Tom Reynolds, commented:
"The completion of the Boa acquisition continues our previously stated strategy
to build a solid cash flow base for future re-investment and growth. The Boa
field delivers reliable production with very strong operating margins, which is
efficiently supported by our accumulated tax pool in the UK. The addition of
Boa also continues to broaden our producing assets portfolio and further
diversifying our revenue streams."

- Ends -

For further information, please contact:

Bridge Energy
Tom Reynolds, Chief Executive

[mattoil] 05/10/2012 00:17

They also have a very recent CPR report out on their web page. Reading about the Garantiana and PL457 prospects was encouraging to say the least. I find on this well would be nice, but its the PL457 I am excited about, so a miss wont send me running. That said, the odds are looking good. I think their ability to generate cash is quite spectacular, no taxes paid, so a few good fields and they will be able to finance some solid development without asking for too much cash.

[topinfo] 04/10/2012 23:50

Nice video interview with CEO 21/09/2012

[tez123] 04/10/2012 23:41

Bridge Energy Joins AIM with a View to Raise Funds
by Jon Mainwaring|Rigzone Staff|Thursday, September 27, 2012






UK-Norwegian oil and gas junior Bridge Energy confirmed Thursday that its shares have been admitted to trading on London's Alternative Investment Market.

Although Bridge has not yet raised any money on AIM, the company wants to the opportunity to do so if certain of its projects on the UK and Norwegian continental shelves are successful in the near future. Bridge already had its stock listed in Oslo, Norway, but AIM is a very popular market among UK-based investors in resources stocks – including specialist fund managers as well as retail investors.

Speaking to Rigzone, Bridge CEO Tom Reynolds said the firm was fully funded for its near-term program and that allowing the stock to trade in London was preparation for the capital-intensive phase of the business' growth.

"We're working on a lot of things that may result in the business needing to grow the capital available to it, so this is very much in preparation of our future requirements. We can talk to a much deeper pool of capital and much wider group of investors," said Reynolds.

Reynolds added that during the next 12 to 24 months he sees a number of triggers occurring that would pave the way for Bridge to raise additional funds.

In the near term, Bridge is currently involved in the drilling of three wells, and a new well on its PL457 license in the Norwegian North Sea is planned for mid-October. The company and its partners have already made discoveries here and are currently looking to prove these before deciding on moving to a field development phase.

"So between now and the end of the year we are looking at some really high-potential results from some very interesting wells," said Reynolds.

[topinfo] 04/10/2012 23:10

Bridge Energy: Bringing Norway's North Sea to AIM
12th Sep 2012, 10:00 am by Ian Lyall

Quoted in Norway, Bridge Energy's debut on AIM later this month comes at a critical and potentially very exciting juncture for the oil and gas mid-cap.

A four-well exploration drilling campaign is already underway, which could provide multiple catalysts for the share price, which is supported by a modest but growing production profile.

Recent farm-in deals have evened up the mix of oil and gas assets in Bridge's portfolio and burnished management's credentials for spotting opportunities with low decommissioning costs.

It has also been very shrewd in acquiring assets that utilise the company's US$200 million pool of tax losses.

The aim of having this production is to generate the cashflow that can ultimately be ploughed back into an ambitious exploration and production programme.

Current output from its Victoria, Duart and Boa fields may be a relatively modest 1,250 barrels a day. However this has the capacity to generate US$37 million a year in cash flow.

The tax shelter means also that with acquisitions such as Duart and Boa it feels the full benefit of those cash flows.

They also provide the cookie cutter template for a series of similar deals that only enhance the company's ability to invest.

From its current base, the group aims to exit 2016 producing between 12-15,000 barrels of oil equivalent a day.

However the thing to note about this projection is it only takes account of the company's plans for existing acreage such as Victoria, Boa and its Vulcan prospects.

Not incorporated into this projection is the impact of acquisitions that might be made or the success of the group's high-impact exploration programme in the increasingly popular Norwegian sector of the North Sea.

In the near-term "we would want to acquire another 1,500 to 2,000 barrels a day", said chief executive Tom Reynolds.

"That level of acquisition is deliverable and affordable within Bridge current cash resources. It would more than double our current cashflow, significantly increasing out ability to re-invest in our exploration and production opportunities."

Financially the group is reasonably well funded, meaning it won't be passing around the cap for new funds when it makes its AIM debut.

It has around US$44 million in cash and a further US$30 million undrawn bank debt that can be drawn upon if required.

"We want to use our financial resources to create a base of cashflow so we don't have to come back to the market looking for this year's pocket money.

This is one thing which differentiates us from some of our peer group," said Reynolds.

The production development programme is underscored by the fact the group has now secured a rig for the back end of next year.

Where exactly it will drill is still open to discussions.

The company is currently deciding whether to deploy the rig on its Vulcan Satellites development, an exploration well within its portfolio or to use the rig slot to leverage into a new project.

The Vulcan Satellites area (Vulcan East, Vulcan NW and Vulcan South) would target up to 50 million barrels of recoverable gas.

"The key thing is we have now contracted a rig and we are now looking to see what is the best use of that rig capacity and bang for our buck," said Reynolds.

"It is fair to say we are still making up our minds.

Reynolds said the group has options to fund whichever project it deems appropriate, though he says it is unlikely to involve raising equity in the short term.

This method of creating value incrementally could and should result in a re-rating of the stock on its own.

However, high impact exploration projects in the Norwegian sector of the North Sea individually have the potential to move the dial significantly.

Four are slated for this year targeting a potential 65 million barrels of un-risked net resources.

Drilling on Apollo and Draupne, on licence PL457, and Geite, on PL497, will get underway in September. Work on Garantiana, with multiple stacked reservoir targets, and the UK Contender prospect has already started.

All of which makes for a rather exciting final few months of the year in terms of news flow and value triggers.

According to the City research firm Edison the PL457 targets are the most important of Bridge's 2012 exploration targets, having been substantially de-risked through the previous drilling of neighbouring blocks, where reservoirs are thought to continue into the licence area.

It is an up and coming North Sea address with the 3 billion barrel Johan Sverdrup discovery on the doorstep.

A total of 30 million barrels of un-risked net resources could be confirmed with results due in November 2012, Edison reckons.

Geite, it adds, has been "largely derisked" thanks to a recent farm-out for "near two for one terms" to Cairn Energy subsidiary Agora.

"With three of the four wells in Norway, Bridge reduces its capital exposure through Norway's exploration relief programme," Edison said.

The research house puts the company's "core" net asset value at NOK22.7 (£2.42) a share, which compares with the current share price of NOK10.40.

It means Bridge trades at a discount to peers such as Faroe and Valiant based on enterprise value to reserves and resources, Edison points out.

It is hoped the AIM market listing will provide the liquidity required to narrow that gap. Based on current metrics it will debut as one of the best value exploration and production stocks on the London market.

[topinfo] 04/10/2012 23:09

Looks interesting oiler this, targeting 12,000 bopd -15,000 bopd within 3 years and only capped at £80 million right now. If true about big oil strike then this could race Northwards pretty quickly as very tightly held and not many shares in free float.

[tez123] 04/10/2012 19:53

The presentation swung it for me.

[sportbilly1976] 04/10/2012 14:16

looking interesting...

[ronan7] 02/10/2012 15:28

i`d be interested to see if they can keep the leve of sharpness up on the line above


it will look preeeeeeeeeety

[mattoil] 30/9/2012 16:34

Latest financial report?



Also note their available tax deferral, larger than current MC.

[utrecht_00] 29/9/2012 19:51

guys- where can I find info on the cash at bank they have, the amount of debt and the daily oil production please? thanks in advance.

[kaos89] 29/9/2012 14:32

I have just started to look at this, generally resource companies not in favour at present, nevertheless this has my interest