Member Info for bluerose

22 October 2012 Bridge Energy ASA ("Bridge", "Group" or "the Company") Oil Discovery at the Contender exploration well Bridge, the Oslo Axess and AIM listed oil and gas exploration and production company (OAX: BRIDGE/ AIM: BRDG.L), is pleased to announce the discovery of a new oil accumulation by well 211/21-N94, known as the Contender Well, situated in the UK Northern North Sea Block, 211/22a Contender Area. The Contender Well has been drilled to a total drilling depth of 16,903 feet (11,550 feet true vertical depth) by Operator TAQA Bratani Limited ("TAQA") from their North Cormorant production platform. The target for the well was located in the Jurassic Brent sandstones to the North East of the Cormorant North field and encountered an oil accumulation. Preliminary estimates indicate an oil bearing reservoir in excess of 65 (sixty five) feet was encountered in the Tarbert member of the Jurassic Brent sandstones, with greater than expected porosity and hydrocarbon saturation. Further reservoir evaluation is ongoing. The discovery well is expected to be completed and put on production in the near future. The field will be developed under the name 'Cormorant East' and production will be processed through the North Cormorant platform. Under the terms of a farm-out agreement (announced 25th August 2011) Bridge has a 4% interest in the well. TAQA is the operator with a 60% interest, with Dana Petroleum (E&P) Limited 20%, Antrim Resources (N.I.) Limited 8.4% and First Oil Expro Limited 7.6%. Tom Reynolds, Bridge Energy, CEO commented: "I am pleased to announce an oil discovery at the Contender exploration well. We are continuing to work with our partners to further define the size of the reservoir. This news comes during an exciting period for Bridge, where in addition to the Contender Well; in Norway we also have operations ongoing in the PL554 Garantiana Well, along with the commencement of drilling operations on the PL457 Asha/Noor Prospect later this month." - Ends -

Moving up in OSLO .....NOK12.30

They only had 15% of this well , the share is going up in OSLO

Boy you really are something ! At first I thought you had noticed other shares untill I saw the end. What has the add on about sclp got to do with this board ? PS The hottest stock for you, get to know other shares and you realise that it is just another startup nothing less nothing more.

Boy ! thanks it is always a pleasure to read your posts. Do keep them coming. What I have realised is that lately we are also having good volume on AIM. That is a sign that BRDG is being " discovered " my those who love oil shares

going on ? Why is a buy deal for 90,000 @ 120 for the value of £108.00K dd 27 th reported today after hours ?

I am sure he can read the RNS, my question is why is he pointing to things that are not in it .

Let us stick to your equal portion, but read the last RNS... Agora is paying part of what BRDG is meant ot pay. I do not think that you know more than BRDG what they have agreed upon.

I agree with you, Bridge explained that Quote RNS After the transaction Bridge holds a 15% interest in the licences. Agora, will as a consideration for the transaction carry a substantial share of Bridge's well cost. The licences contain the Geite prospect, which will be tested by the ongoing exploration well 7/11-13. Unquote It does not say that costs will be split equally.

Can you please explain what you mean by your posts ?

Thanks very good news , and this is just the begining GL

That is what was missing yesterday. Volume is bound to increase today

Thanks for your reply, I asked about the dual listing because I think that BRDG will leave the OSLO market sooner rather tham later. Thanks also for the shareholders list.

You must be Norwegian, so can you tell me what will happen when more and more shares are bought through AIM. Will BRDG still have a dual listing or will it just trade on AIM ?We were told that no new shares were being issued. As regards to buying shares through the Oslo exchange does it really make sense when you have to pay to get them transferred to the UK stockexchange ?

I got to know about BRDG from this. The low volume will end when more shares will be bought through AIM. Buying shares today was not easy, but things will get better GL Read more: http://www.thisismoney.co.uk/money/markets/article-2204520/SMALL-CAPS-FOCUS-Bridge-Energys-debut-AIM-comes-exciting-juncture.html#ixzz26kzM5dQu

The low volume today is because I think you could only trade through a broker and many on these boards trade online , so for the first few days you can count these out, if I am correct that is .Unless they decide to use a stockbroker. Like you this is the first time I traded on the first day and I think we did the right thing. The share price will move very quickly when it will open to online dealing.

Well not everyone could buy at the opening price of £1.22 !! I am sure that you are not the only one who paid more infact there was only one deal at £1.22 This is only the first day, many have not even heard about this share, but will surely follow when they find out that it can become a big name in the North Sea GL

Thanks very informative post.on what is after all a new share to this market.

It just deletes the buy deal that was done at 8:44:15

For those who bought or are going to buy GL Bridge Energy sets its sights on the mid-caps as it makes its AIM bow 8:21 am by Ian Lyall The London listing comes at a critical and potentially very exciting juncture for the ambitious group. Oslo-listed North Sea explorer Bridge Energy (OAX:BRIDGE) this morning made its debut on AIM with a valuation of £75 million. The listing was by way of introduction, which means no new funds were raised. But it is a decisive move for the ambitious group as it ramps up both exploration and development activities. Chief executive Tom Reynolds said this morning: "I am very pleased to announce the first day of dealings of our shares on AIM. “It is another very important step in realising our strategy of becoming an established, mid-cap exploration and production company. “I would also like to thank our existing shareholders for their continued support and I look forward to welcoming new investors from the London market." The London listing comes at a critical and potentially very exciting juncture for the ambitious group. A four-well exploration drilling campaign is already underway, which could provide multiple catalysts for the share price, which is supported by a modest but growing production profile. Recent farm-in deals have evened up the mix of oil and gas assets in Bridge’s portfolio and burnished management’s credentials for spotting opportunities with low decommissioning costs. It has also been very shrewd in acquiring assets that utilise the company’s US$200 million pool of tax losses. The aim of having this production is to generate the cashflow that can ultimately be ploughed back into an ambitious exploration and production programme. From its current base, the group aims to exit 2016 producing between 12-15,000 barrels of oil equivalent a day. In the near-term “we would want to acquire another 1,500 to 2,000 barrels a day”, said chief executive Tom Reynolds in a recent interview.