Wintershall Spuds Asha/Noor Well in North Sea

Anglo-Norwegian junior Bridge Energy announced Wednesday that its partner Wintershall Norge has begun drilling exploration well 16/1-16 on the Asha/Noor prospect in the Norwegian North Sea.

The multi-target well, which is located on the western flank of the Utsira High, has the potential to appraise the nearby Aasen and Apollo discoveries, said Bridge.

The four reservoir zones that Bridge is targeting are Noor, Mukta, Zechstein and Draupne/Asha, which have a combined mean un-risked recoverable resource of approximately 30 million barrels of oil equivalent net to Bridge.

In a company statement, Bridge Energy CEO Tom Reynolds commented:

"I am very pleased to announce the commencement of drilling on the Asha/Noor exploration well, our fourth well spudded in the second half of this calendar year. The well is a high impact exploration well which represents a large net upside potential for Bridge, with the costs associated with drilling operations mitigated by the Norwegian tax rebate system. We will announce results from the well once drilling operations are complete."

The operator, Wintershall, has a 40-percent interest in the well, while Bridge has a 20-percent interest. The two other partners, E.ON E&P Norge and VNG Norge both have a 20-percent share.

The Bredford Dolphin (mid-water semisub) rig is being used to drill well 16/1-16.


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