Bridge Energy ASA to Complete Drilling at Mjosa Prospect in License Shared with AP Moeller Maersk A/S's Unit and Others

Tuesday, 11 Jun 2013 02:01am EDT 

Bridge Energy ASA announced that it is a minority partner in the PL511 license containing the Mjosa prospect, shared with AP Moeller Maersk A/S's unit and others, and the 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 program 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%). 

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