Bridge Energy ASA: PL457 Drilling Campaign Update

              Bridge Energy ASA: PL457 Drilling Campaign Update

17^th October 2013

                              Bridge Energy ASA

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

                        PL457 Drilling Campaign Update

Bridge, the Oslo Børs  and AIM listed oil  and gas exploration and  production 
company (OSE:BRIDGE/AIM:BRDG.L), provides an update on the current exploration
drilling campaign, targeting the Amol and Asha East prospects within the PL457
licence.

Further to the announcement on 25^th September 2013, the Company advises  that 
the Asha East well has been drilled to its total depth.The primary target  in 
Asha East  was Hugin  (Jurassic)  sandstone with  a  secondary target  in  the 
Skagerrak Fm (Triassic).  A 55m  core has  been retrieved  from the  Jurassic 
section. Preliminary assessment of the acquired data indicates that,  despite 
oil shows, there  are no  signs of  movable hydrocarbons  in the  well. As  a 
consequence, no drill stem test will be carried out. After completion of  the 
ongoing data acquisition, the well will be plugged and abandoned.

Bridge has a 20% interest in  the PL457 licence. Wintershall is the  operator 
with 40%, with the other partners VNG (20%) and E.ON (20%).

                                   - Ends -

For further information, please contact:

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

Euan Tait, Corporate Development
euan.tait@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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information contained therein.

Source: Bridge Energy ASA via Thomson Reuters ONE
HUG#1736197
 
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