Blackford Dolphin Rig Secured for Aragon Prospect

Anglo-Norwegian junior explorer Bridge Energy reported Thursday that it and its partners in the P1763 license in the UK zone of the northern North Sea who have entered into a rig contract securing the Blackford Dolphin (DW semisub) rig for the drilling of the Aragon prospect.

The well is expected to be drilling during the first quarter of 2014.

Bridge has a 13.5-percent interest in the license, with license operator MPX North Sea Limited holding 22.5 percent. Cairn Energy, JX Nippon Exploration and Production and Sorgenia E&P hold 30 percent, 25 percent and nine percent respectively.

Bridge Energy CEO Tom Reynolds commented in a company statement:

"We are pleased to have secured this rig slot, which will kick-start our 2014 exploration drilling program early in the year.  The Aragon prospect is located near to the Beryl field and is targeting the Upper Jurassic Heather Sands. At 9mmboe net un-risked potential to Bridge, this UK exploration target provides material upside potential, whilst also demonstrating the depth of opportunities which exist within our portfolio."

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