Bridge Energy ASA : Bridge Energy ASA: Exploration drilling campaign in PL457 commences

Bridge Energy ASA : Bridge Energy ASA: Exploration drilling campaign in PL457

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 

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

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 

- Ends -

For further information, please contact:

Bridge Energy
Tom Reynolds, Chief Executive
+44 1224 659 120

Alfred Kjemperud, MD Bridge Energy Norge
+47 66 77 96 30

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

FTI Consulting
Edward Westropp/Natalia Erikssen +44 20 7831 3113

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:

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

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:

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
information contained therein.

Source: Bridge Energy ASA via Thomson Reuters ONE
Press spacebar to pause and continue. Press esc to stop.