LONDON--Bridge Energy ASA (BRIDGE.OS), an oil and gas
exploration and production company, said Tuesday that preliminary
well results from the PL511 license containing the Mjosa prospect
indicate uncommercial gas volumes, however further interpretation
from the ongoing data acquisition program will provide additional
detailed analysis on the prospect.
MAIN FACTS:
-Reservoir quality sandstones have been encountered.
-Wintershall Norge AS, as operator of PL511, will complete the
drilling operations before the well is plugged and abandoned.
-Bridge Energy is a minority partner in the PL511 license
(non-operated) containing the Mjosa prospect
-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%).
-Write to Razak Musah Baba at razak.baba@dowjones.com
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