Bridge Energy: Mixed Results from PL457

Bridge Energy has provided an update on the progress of the ongoing 16/1-16 well on Wintershall-operated licence PL457 which is targeting four separate reservoirs: Heimdal formation, Åsgard formation (Noor), Hugin formation (Asha), and Zechstein group.

The well was spudded on 24 October 2012 and drilling operations continue. No Heimdal sand was encountered by the well. Sands of the Åsgard formation (Noor prospect) were found to be water wet and at the time of publication, the well had entered the Asha target zone and detected indications of hydrocarbons. A core will now be taken.

 Tom Reynolds, CEO of Bridge, said: “The Bridge 2012 exploration programme has delivered discoveries for us at Garantiana in Norway and Contender in the UK and whilst the interim results from the Noor horizon at the PL457 well were not as expected, initial results from the Asha horizon indicate the presence of hydrocarbons and we will make a further announcement following completion of drilling operations.”

The well 16/1-16 is being drilled with the Bredford Dolphin rig.

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Press Release, November 22, 2012