Bridge Energy ASA Bridge Energy Asa: Exploration Drilling Campaign In Pl457 Commences

 
TIDMBRIDGE 
 
 
 
   14 August 2013 
 
   Bridge Energy ASA 
 
   ("Bridge", "Group" or "the Company") 
 
   Exploration drilling campaign in PL457 commences 
 
   Bridge, the Oslo Børs and AIM listed oil and gas exploration and 
production company (OSE: BRIDGE / AIM: BRDG.L), is pleased to announce 
that the exploration drilling campaign in PL 457 covering wells 
targeting the Amol and the Asha East prospects has commenced, with the 
wells being located on the Utsira High and Gudrun Terrace, respectively. 
 
   Both wells will be drilled by the semi-submersible rig Borgland Dolphin. 
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. 
 
   Bridge has a 20% interest in the wells.  Wintershall is the operator 
with 40%, with the other partners VNG (20%) and E.ON (20%). 
 
   More details of both prospects can be found in our most recent Corporate 
Presentation and our Reserves and Resources Report at 
http://www.bridge-energy.com/investor. 
 
   Tom Reynolds, CEO of Bridge Energy, commented: 
 
   "I am pleased to announce the spud of the next two exploration wells 
within the Bridge 2013 drilling programme.  The wells will target the 
Amol prospect, where we estimate around 6mmboe potential net recoverable 
resource to Bridge on an unrisked basis, and will also target the Asha 
East prospect. With significant resources discovered through the Asha 
well drilled in 2012, these wells have the potential to add significant 
resources to an already valuable asset." 
 
   - Ends - 
 
   For further information, please contact: 
 
   Bridge Energy 
 
   Tom Reynolds, Chief Executive 
 
   [e-mail] 
 
   Aberdeen                                                                    [phone] 
 
   Alfred Kjemperud, MD Bridge Energy Norge 
 
   [e-mail] 
 
   Norway                                                                        [phone] 
 
   Cenkos Securities 
 
   Jon Fitzpatrick                                                            [phone] 
 
   Neil McDonald                                                             [phone] 
 
   FTI Consulting 
 
   Edward Westropp/Natalia Erikssen                              +44 20 
7831 3113 
 
   [e-mail] 
 
   Statutory guidance statements 
 
   This information is subject to disclosure requirements pursuant to 
section 5-12 of the Norwegian Securities Trading Act. 
 
   Notes to Editors 
 
   Bridge Energy is an oil and gas exploration and production company which 
holds production licences in the UK (North Sea) Continental Shelf and 
exploration assets in both the UK and Norwegian Continental Shelves. The 
company is listed on the Oslo stock exchange (OSE: BRIDGE) and the 
London stock exchange (AIM: BRDG.L). 
 
   The information contained in this announcement has been reviewed and 
approved by Dr Alfred Kjemperud, Managing Director, Bridge Energy Norge 
AS.  Alfred holds a PhD in Geology from The University of Oslo and has 
been a practising Petroleum Geologist for over 30 years. He has compiled, 
read and approved the technical disclosure in this regulatory 
announcement. 
 
   The technical disclosure in this announcement and the estimates are 
based on the definitions and guidelines set out in the 2007 Petroleum 
Resources Management System prepared by the Oil and Gas Reserves 
Committee of the Society of Petroleum Engineers and reviewed and jointly 
sponsored by the World Petroleum Council (WPC), the American Association 
of Petroleum Geologists (AAPG) and the Society of Petroleum Evaluation 
Engineers (SPEE).These definitions and guidelines can be found on the 
SPE website at www.spe.org. 
 
   The Company has a significant number of licences both within the UK and 
NCS, including several operatorships.  Bridge has drilled 18 exploration 
and appraisal wells, including ten discoveries. 
 
   Underpinned by existing production, Bridge boasts a high impact 
exploration portfolio with a strong inventory of undeveloped gas 
discoveries which represents a sustainable business platform for 
production and exploration growth in the North Sea. 
 
   For more information please visit: www.bridge-energy.com 
 
 
 
   This information is subject of the disclosure requirements pursuant to 
section 5-12 of the Norwegian Securities Trading Act. 
 
   This announcement is distributed by Thomson Reuters on behalf of Thomson 
Reuters clients. 
 
   The owner of this announcement warrants that: 
 
   (i) the releases contained herein are protected by copyright and other 
applicable laws; and 
 
   (ii) they are solely responsible for the content, accuracy and 
originality of the 
 
   information contained therein. 
 
   Source: Bridge Energy ASA via Thomson Reuters ONE 
 
   HUG#1722841 
 
 
  http://www.bridge-energy.no/