Bridge Energy Share Discussion Threads

[rogerlin] 20/8/2013 09:15

Looking at some old diagrams of PL457 I see that the original intention was to drill Amol further north and test the Aglaga sand injectite prospect at the same time. The current site further south is of course closer to the Tellus success but leaves the Aglaga for another day (although that was only given an unrisked million boe net value of 2 in any case).

[rogerlin] 16/8/2013 09:48

Thanks for that link Bomfin. The diagram given is sadly rather fuzzy but all the same there is something odd about it- I think it needs rotating about 45 degrees to the right- but the positions of Amol and Ivar Aasen upside are clearly marked. Detnor sound quite optimistic anyway.

[bomfin] 16/8/2013 08:53

Detnor covering the Amol/Asha extension well in some detail here. About 8 mins in to 11 mins in. Results presentation 2 days ago.

hxxp://media01.smartcom.no/Microsite/go.aspx?eventid=7026&urlback=null&bitrate=738262

[bomfin] 14/8/2013 11:59

I'm hoping for £100 million upside to Bridge market cap on a successful well. 100 million barrels gross upside potential on the two wells combined. imho dyor. Not many wells drilled on the Utsira high have failed to find hydro carbons. imho

[rogerlin] 14/8/2013 09:09

"The Asha East exploration well will be drilled as a side-track from the
Amol exploration well main bore, with the results from Asha East well
expected first" says this morning's RNS. So you were right about the order of events Mattoil. No guidance is given on how long the drills might take.

[rogerlin] 13/8/2013 08:25

The BD seems to have arrived. Looking at the marine traffic map I would say it is about 2km east of the original Asha well and about half a kilometre south, about where one would expect it to be I guess.

[rogerlin] 12/8/2013 08:18

The Borgland Dolphin has left Vega and is heading to Amol, ETA 12.08.13 20.00 hrs.

[rogerlin] 08/8/2013 09:35

On page 42 of this old 2010 presentation Lundin mapped the lower Cretaceous component of the Apollo discovery as extending into PL457. The hoped for Apollo extension was not found at the original Asha 16/1-16 well location but it could be present at the appraisal site depending on exactly where this is going to be. So there might even be a third target in this well?

[bomfin] 08/8/2013 09:18

Thanks again Mattoil

[mattoil] 07/8/2013 17:15

AIM quoted Bridge Energy (LON:BRDG) is shaping up to be a material contributor to production growth in the Continental Shelf, according to City broker Cantor Fitzgerald.

The broker today began its coverage of the junior exploration and production (E&P) with a 'Buy' recommendation with a 203p target.

It believes Bridge is significantly undervalued compared to its peer group ahead of what is expected to be 12 months of accretive business development activity.

[...]

[rogerlin] 06/8/2013 19:32

"The sales process of Tullow's businesses in the UK and Dutch Southern North Sea gas basin is in progress and good interest has been shown at a number of data room visits" says Tullow's half yearly report 31st July. Not very helpful for the Vulcan satellites.

[bomfin] 06/8/2013 11:55

Yes Mattoil. we are currently undervalued but a successful appraisal/explo or both will make current share price look very skinny indeed.

[mattoil] 06/8/2013 11:16

Very much looking forward to it. I think they will test the Asha appraisal first, before continuing on the AMOL prospect. For Asha I think total resources can amount to 100mmboe, and AMOL 30mmboe. Total net to Bridge could thus be 26mmboe. Assuming a price of USD 8 per barrel (Grieg transaction was valued at USD 8.5)we could possibly have net values amounting to at least USD 208 million, not taking into account the further upside on the license. With two hits, PL457 could be worth twice as much as the entire company.

Lots of risk of course, but given the rate of success in the area and taking into account one is an appraisal well I would say our odds are fairly good.

[bomfin] 06/8/2013 10:47

Thanks mattoil. I noticed a little tick up yesterday :-)
Also results on 22nd August.

[rogerlin] 06/8/2013 09:05

That's very good news Mattoil. And yesterday a single share traded above 11 NOK too.

[mattoil] 05/8/2013 23:58

Latest reports suggests drilling on Amol/Asha will start next week.

[rogerlin] 17/7/2013 16:54

Yes, just have to wait I think and at least the price seems to have steadied lately.

[bomfin] 16/7/2013 21:31

Thanks for the posts rogerlin. Quiet spell for Bridge but sufficient cash flow from production to tick over nicely until the next well.

[rogerlin] 15/7/2013 19:22

Refreshing my memory about the Aragon prospect from the last presentation. Bridge believe that prospectivity has been missed in between two previous wells which both encountered gas and therefore give a POS of 21% to find gas.

[rogerlin] 09/7/2013 15:57

I think this is essentially the same information as in your earlier post Bomfin. First oil from Ivar Aasen 2016.

[rogerlin] 08/7/2013 17:09

Antrim presentation with a section on Cormorant East and some quite positive remarks, said that initial 5,500 bbl/day production was with a 30% choke and could therefore be higher, and that a further well downdip was being positively considered.

Edit: thought there were some slightly odd remarks in this and I now see it is from 7th February!

[rogerlin] 08/7/2013 08:37

I don't know the answer to that Bomfin, but evidently more than the combined output from Edvard Grieg and Ivar Aasen.

"As well as providing a joint export solution for both fields, the so-called Edvard Grieg Pipeline is intended by Statoil to have an area-wide application for oil transport".

[bomfin] 05/7/2013 10:00

thanks for info rogerlin.

hxxp://www.upstreamonline.com/live/article1331567.ece

Mention of Ivar Aasen here. how much oil can go through a 28 inch pipeline?