Bridge Energy ASA : Bridge Energy ASA: PL511 Mjøsa exploration well update

  Bridge Energy ASA : Bridge Energy ASA: PL511 Mjøsa exploration well update

11^th June 2013

                              Bridge Energy ASA

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

                PL511 Mjøsa (6406/6-3) exploration well update

Bridge, the Oslo Børs  and AIM listed oil  and gas exploration and  production 
company (OSE: BRIDGE/AIM: BRDG.L), is a minority partner in the PL511  licence 
(non-operated) containing the  Mjøsa prospect, where  drilling operations  are 
about to complete.

Reservoir quality sandstones have been encountered. Preliminary well  results 
indicate uncommercial  gas volumes;  however further  interpretation from  the 
ongoing data acquisition programme  will provide additional detailed  analysis 
on the prospect. Wintershall  Norge AS, as operator  of PL511, will  complete 
the drilling operations before the well is plugged and abandoned.

Bridge's financial exposure on this well was limited following a farm-down  of 
its  original  interest  in  2010.  Bridge  has  a  7.5%  interest  in  PL511; 
Wintershall holds a  25% interest  with other  partners Maersk  Oil Norway  AS 
(25%), Petoro AS (20%), Tullow Oil Norge AS (10%), and VNG Norge AS (12.5%).

                                   - Ends -

For further information, please contact:

Bridge Energy
Tom Reynolds, Chief Executive
tom.reynolds@bridge-energy.com
Aberdeen
 +44 1224 659 120

Cenkos Securities
Jon Fitzpatrick
 +44 207 397 1951
Neil McDonald
 +44 131 220 9771

FTI Consulting
Edward Westropp/Natalia Erikssen +44
20 7831 3113
Edward.Westropp@fticonsulting.com

Statutory guidance statements
This information is subject to disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.

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.

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 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 from its operated Victoria field,
non-operated Duart field, non-operated Boa field, 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.

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Source: Bridge Energy ASA via Thomson Reuters ONE
HUG#1708446
 
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