Asha well proves oil offshore Norway

Offshore staff

OSLO, Norway – Wintershall has discovered oil in the Asha structure in the Norwegian North Sea, according to partner Bridge Energy (OSE: BRIDGE;AIM: BRDG.L).

Operations on the 16/1-16A side track of the discovery well in license PL 457 are nearing completion.

The first wellbore, 16/1-16, encountered good quality oil in mid-Jurassic reservoirs in the Hugin and Triassic Skagerrak formations. The side track was then drilled to appraise the find and to establish an oil/water contact.

Based on early analysis, Bridge estimates recoverable reserves in the range of 25-35 MMboe, with further potential volumes outside the license.

This was the first well drilled on the acreage. Other nearby prospects are under evaluation. A second exploratory well will likely be drilled in the area.

12/20/2012

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