Bridge Energy to Plug and Abandon Asha East Well

Bridge Energy, the Oslo Børs and AIM listed oil and gas exploration and production company, provides an update on the current exploration drilling campaign, targeting the Amol and Asha East prospects within the PL457 licence.

Further to the announcement on 25th September 2013, the Company advises that the Asha East well has been drilled to its total depth. The primary target in Asha East was Hugin (Jurassic) sandstone with a secondary target in the Skagerrak Fm (Triassic). A 55m core has been retrieved from the Jurassic section. Preliminary assessment of the acquired data indicates that, despite oil shows, there are no signs of movable hydrocarbons in the well. As a consequence, no drill stem test will be carried out. After completion of the ongoing data acquisition, the well will be plugged and abandoned.

Bridge has a 20% interest in the PL457 licence. Wintershall is the operator with 40%, with the other partners VNG (20%) and E.ON (20%).

Press Release, October 17, 2013

 

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