Bridge Energy announces awarded new block in the UK North Sea

Tuesday, Jan 10, 2012

Bridge, the Oslo Axess-listed oil and gas exploration and production company (OAX: BRIDGE) is pleased to announce that it has been notified by the UK Department of Energy and Climate Change (DECC) that it has been awarded block 49/21c in the UK North Sea in the 26th Seaward Licensing Round. The award is for a traditional licence and the initial term is for four years and carries a commitment to reprocess 150 km of 3D seismic data. A decision on drilling a well will be required to be made by the end of the fourth year of the initial term.

Jim Brunton, MD of Bridge UK commented:
“We are very pleased to have been offered this block which we see as adding further quality to our exciting exploration portfolio in one of our core areas in the Southern Gas basin. Given the location of the block in this prolific and productive sector of the UK gas basin surrounded by the Leman, Vulcan and Valiant gas fields, we are confident in the prospects that we have mapped on the licence.”

Source: Bridge Energy

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