Bridge Energy ASA: Announcement from Spike Exploration Holding AS

      Bridge Energy ASA: Announcement from Spike Exploration Holding AS

18^th October 2013

                              Bridge Energy ASA

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

                Announcement from Spike Exploration Holding AS

Bridge, the Oslo Børs  and AIM listed oil  and gas exploration and  production 
company (OSE:BRIDGE/AIM:BRDG.L), notes the  announcement by Spike  Exploration 
Holding AS (the "Offeror") today in relation to its voluntary tender offer to
acquire all outstanding shares in  Bridge Energy ASA. As  at the time of  this 
release the Offeror holds 21,058,484 Shares, representing approximately  33.20 
per cent of  the Shares and  voting rights  in the Company.  In addition,  the 
Offeror has received  acceptances under the  Offer for a  total of  40,250,144 
Shares, representing  approximately 63.5  per cent  of the  Shares and  voting 
rights in the Company. In total, the Offeror's holding of Shares and rights to
Shares equals approximately 96.7 per cent of the outstanding Shares and voting
rights in the  Company. This  means that  the condition  relating to  minimum 
acceptance level in the Offer has been met.

The full text of Spike Exploration Holding AS announcement is below:
NOT FOR DISTRIBUTION IN OR INTO AUSTRALIA, JAPAN OR ANY OTHER JURISDICTION IN
WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL

Stavanger, 18 October 2013 - Reference is made to the offer document dated  3 
October 2013 (the "Offer Document"), issued by Spike Exploration Holding  AS 
(the "Offeror"),  relating to  its voluntary  tender offer  (the "Offer")  to 
acquire  all  outstanding  share(the  "Shares")  in  Bridge  Energy  ASA  (the 
"Company").



As of  the  time  of  this  release,  the  Offeror  holds  21,058,484  Shares, 
representing approximately 33.20 per cent of  the Shares and voting rights  in 
the Company. In addition, the Offeror has received acceptances under the Offer
for a total of 40,250,144 Shares, representing approximately 63.5 per cent  of 
the Shares and voting rights in  the Company. In total, the Offeror's  holding 
of Shares  and rights  to Shares  equals approximately  96.7 per  cent of  the 
outstanding Shares  and voting  rights in  the Company.  This means  that  the 
condition relating to minimum acceptance level in the Offer has been met.



The period within which the Offer can be accepted expires today at 16:30 hours
(CET).



Completion of the Offer is subject to the fulfilment or waiver by the  Offeror 
of the conditions  to completion set  out in the  Offer Document. The  Offeror 
expects that the remaining conditions to  completion of the Offer will be  met 
or waived, as applicable,  no later than early  November 2013. Other than  the 
condition relating to acceptance level addressed above, as of the date hereof,
none of the conditions that require any  action in order to be fulfilled  have 
been fulfilled, and none  of the conditions that  refers to events that  shall 
not occur have, to the Offeror's knowledge, occurred.



The Offer and the distribution of  this announcement and other information  in 
connection with the Offer may be restricted by law in certain jurisdictions.



Spike Exploration does not assume any  responsibility in the event there is  a 
violation by any person  of such restrictions.  Persons into whose  possession 
this announcement or such other information should come are required to inform
themselves about and to
observe any such restrictions.



Contacts
Spike Exploration Holding AS
Bjørn Inge Tønnessen, CEO, +47 902 01 289, bit@spike-
x.com
Harald Vabø, Chairman, +47 917 11 209,
harald.vabo@hitecvision.com
This information is subject to the disclosure requirements set out in sections
4-3 and 6-19 of the Norwegian Securities Trading Act.

                                   - 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#1736740
 
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