Bridge Energy ASA : Bridge Energy ASA: Rig Contract Signed for P1763 Licence

 Bridge Energy ASA : Bridge Energy ASA: Rig Contract Signed for P1763 Licence

11^th July 2013

Bridge Energy ASA

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

Rig contract signed for P1763 Licence (the "Licence")

Bridge, the Oslo Børs  and AIM listed oil  and gas exploration and  production 
company (OSE:BRIDGE/ AIM: BRDG.L) is pleased to announce that, along with its
partners in the Licence, it has entered into a contract with Dolphin  Drilling 
Limited to secure a drilling slot with the Blackford Dolphin  semi-submersible 
rig.

This rig will target the Aragon exploration prospect in the UK Northern  North 
Sea, with this well expected to be drilled Q1 2014.

Bridge has a  working interest of  13.5% in  the Licence, with  MPX North  Sea 
Limited 22.5%  (Operator),  Agora Oil  &  Gas  (UK) Limited  (a  wholly  owned 
subsidiary of Cairn Energy plc) 30%,  JX Nippon Exploration & Production  (UK) 
Limited 25% and Sorgenia E&P (UK) Limited 9%.

Tom Reynolds, CEO of Bridge Energy, commented:
"We are pleased to have secured this rig slot, which will kick-start our  2014 
exploration drilling  programme early  in the  year. The  Aragon prospect  is 
located near to the  Beryl field and is  targeting the Upper Jurassic  Heather 
Sands. At 9mmboe net unrisked potential to Bridge, this UK exploration  target 
provides material upside  potential, whilst  also demonstrating  the depth  of 
opportunities which exist within our portfolio".

- 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
Natalia Erikssen
 +44 20 7831 3113
natalia.erikssen@fticonsulting.com

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 Kevin Purvis, Exploration Director, Bridge Energy UK Ltd. Kevin holds a
Bsc and Phd in Geology from Nottingham  and Reading University and has been  a 
practising geologist  for over  20 years  and is  a fellow  of the  Geological 
Society of London. He has read  and approved the technical disclosure in  this 
regulatory announcement

The technical disclosure in this announcement and the estimates in the CPR 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 from its operated Victoria field,
non-operated Duart field and 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
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