Bridge Energy Share Discussion Threads

[polyps] 07/1/2013 10:54

Have a look at Platino Energy, just listed from spin out of CC Energia in Columbia, tasty blocks next to Amerisur resources Platinillo. 50% WI to them, 80 Million cash to develop and proven management team.

[polyps] 07/1/2013 10:53

I'm in after weekend research, looks good value. Only concern is the sale of Tullow's SNS assets. Will this delay the start of the Vulcan prospects and who do you think will be the buyer as they will likely be the farm down partner?

[bomfin] 07/1/2013 08:02

Lundin have announced this morning that they have started an appraisal well on Johan Sverdrup field using the Bredford Dolphin. So, clearly it is finished at Asha well. :-) interested to see what NPD eventually say?

[bomfin] 07/1/2013 07:40

Announcement this morning is claiming 15 million boe from the drilling programme.
3 directors bought same day as they announced the higher than expected discovery at Asha. I expect they will find more oil in this block this year. imho dyor

[cwa1] 07/1/2013 07:17

Hopefully good....

[rhubarbe] 06/1/2013 20:30

Is that good though, or bad?

[bomfin] 06/1/2013 20:28

No NPD notification that the Asha/Noor well is finished. they've been at td for over 2 weeks.

[rhubarbe] 06/1/2013 20:20

They will indeed...

[greenroom78] 06/1/2013 12:22

People will talk.

[rhubarbe] 06/1/2013 10:44

Cheers, GR. We must stop meeting like this.

[greenroom78] 06/1/2013 10:22

I was lured in by the recent oil barrel presentation. I like management's strategy. Post IPO chart not the best but most new offerings seem to go down first nowadays and it appears to have found a base at this level. I bought in just over 105p just before xmas.

This appears to be the lead market

[rhubarbe] 05/1/2013 21:19

This appears to have been missed by most. Still researching this one but it doesn't look too shabby..

[bomfin] 04/1/2013 09:02

Nothing it would appear specifally for this farm out but something else would be my guess. Only speculating

[greenroom78] 04/1/2013 08:50

Am I being daft or have they failed to tell us the terms of this deal? As in what are BRDG getting for giving up 16.5%?

[bomfin] 04/1/2013 07:22

farmed down Aragon licence is surrounded by producing oilfields and borders BRDG's Boa field where they have a small interest. Boa looking like over 50 million barrels recoverable. Good to see they have clearly been talking to Cairn. They could drill ths back to back with the Mariner extension? which is less than 20 miles away. ??

[bomfin] 03/1/2013 02:22

paste from the September reserves report.

The input parameters for the volumetrics were provided by the Operator in the
PL457 (Wintershall) license based on several wells in the area, including 16/1-9. AGR
has had limited opportunity to evaluate these. The 16/1-11 well (operated by Det
Norske Oljeselskap) and the 16/1-14 well (operated by Lundin Norge AS) were
drilled in 2010. While well 16/1-11 confirmed the hydrocarbon contacts, the top of
the Draupne reservoir came in deeper than expected in well 16/1-14 and was water
wet. The well also proved oil in the Triassic
In the volume estimates it is assumed that the Asha has a gas column and belongs
to the Draupne Field. It may however be partly a separate segment and thus be filled
differently. An eastward fill-and-spill mechanism with oil-spill from the western part
of Draupne into the Asha area could result in oil rather than gas in Asha. Given the
uncertainty in the migration mechanism and in Middle Jurassic thickness together
with evidence of oil-bearing Triassic, upside resources to the Draupne discovery
could be added. Based on AGR calculations, which include the Triassic, the relative
fraction of oil would increase in favour of the PL457 licence.
The estimated share of the volume within license PL457 is based on Bridge's
estimates. It is AGR's view that the volume estimates with regard to oil volume in
Asha are conservative and that the proportion of Draupne within the PL457 licence
could be larger.

[bomfin] 02/1/2013 12:54

looking over the prospectus it looks like their reserves auditors were more hopeful for Asha than Bridge were. Bridge weren't it appears expecting oil in the Triassic. Also some signs in the area that sandstones thicken towards faults in the area. There are about 4 discoveries which can potentially overlap into the 457 block. imho dyor

[bomfin] 28/12/2012 10:59

Thanks. I'd missed the 2nd RNS.

Next news I guess will be the conclusion of the Asha well and the operator and NPDs update on reserves. Plenty testing going on in my opinion because these well results will be presented to the current Ivar Aasen partners for Unitization purposes. So far Bridge have announced that Ivar Aasen extension into their block is bigger than expected. Does this give room for reserves in their block north of Ivar Aasen as well as East of Ivar Aasen? Could Ivar Aasen and Hanz be joined with the joining part being in Bridge's 20% block? (Speculative) Some maps show as a much bigger field aerially than previously indicated. imho dyor

[greenroom78] 28/12/2012 10:50

Coverage of today's RNS

[bomfin] 28/12/2012 08:17

So last bad news sorted so market should now catch up with the value of the last good news.e.g the finding of 5 to 7 million barrels of oil net in a field which is being developed.??

[cwa1] 28/12/2012 07:40

Victoria Field ("Victoria") Recommences Production

Bridge, the Oslo Børs and AIM listed oil and gas exploration and production
company (OSE: BRIDGE/ AIM: BRDG.L) confirms that, further to the announcement
dated 20(th) December 2012 regarding the Victoria field shut-in, the gas export
infrastructure system used by the Victoria field is now available and fully
operational.

Accordingly, Bridge is pleased to announce that production from the Victoria
field resumed on 26(th) December 2012 at a flow rate of 7.6mmscf/d.

[bomfin] 24/12/2012 12:53

Cairn's interim management statement from October.


UK AND NORWEGIAN NORTH SEA PRE-DEVELOPMENT


•Greater Catcher area (Cairn 30%) The field comprises excellent quality injectite reservoir sands. New 3D seismic data is being interpreted and, in view of its material position, Cairn is presently working very closely with the operator, Premier Oil, and other joint venture partners on the sub-surface interpretation and the development concept selection process ahead of submitting a Field Development Plan (FDP).
•Kraken development (Cairn 25%) The Kraken oil sands are very high quality reservoirs. Cairn and the operator, EnQuest, currently estimate gross 2C resources of 160 mmbbls with further appraisal drilling required to better define the field size. A FDP is planned for submission in 2013.
•Mariner (Cairn 6%) The field is one of the largest undeveloped fields in the UK North Sea. It is a heavy oil field with high well deliverability and the operator, Statoil, is working towards Project Sanction in 2012/13. Cairn's interest in block 9/11 is 6%, but the Company has an 80% operated interest in block 9/11c to the south into which Mariner may extend.

[bomfin] 24/12/2012 08:52

With Mariner going to development (a big development project with government tax concessions) and Cairn being a 6% interest holder in Mariner and an 80% holder in the possible extension where bridge are a 20% holder a big company like Cairn will be wanting to test this possible extension sooner rather than later. imho dyor

[bomfin] 24/12/2012 00:48

you'll see in this Cairn Energy presentation Mariner reaching down into Bridge's 20% block.

[bomfin] 23/12/2012 22:55

Directors have been buying.
Mariner in the news on 21st December.


From AIM admission prospectus (P979 is a UKCS 18th round licence, with an anticipated expiry date of 2034. Block 9/11c is located in the
Northern part of the UK North Sea, immediately to the south of the Statoil-operated undeveloped
Mariner heavy oil field in block 9/11a. The Mermaid prospect was drilled in 2007 by well 9/11c-13 but
was dry and the well plugged and abandoned. At present it is believed that the Mariner Field extends
into the northern part of 9/11c. There are no outstanding commitments on the licence. Prospect
evaluation is on-going.)

Bridge with 20% of block just south of Mariner.
Reserves figures for prospect from their reserves auditors.

Potential 7.9 millon barrels net to Bridge.

Oil MMbls Gross STOIIP Unrisked Net Resource
Risk
Factor
Operator
PROSPECT
Low
Estimate
Best
Estimate
High
Estimate
Low
Estimate
Best
Estimate
High
Estimate
POS
Mariner
Extension
1,336 1,566 1,805 Nautical
Of which
on-block 253 312 374 5 6.2 7.6 0.23