OSLO, Norway – Bridge Energy (OSE: BRIDGE/ AIM: BRDG.L) says reserves have been upgraded for the recent Asha discovery in the Norwegian North Sea.
The company is a 20% partner in surrounding license PL457 that is operated by Wintershall.
An oil find was first announced in December, involving one well followed by a side track. These encountered good quality oil in Mid-Jurassic Hugin and Triassic Skagerrak reservoirs.
Earlier analysis suggested 25-35 MMboe recoverable within the license, but Wintershall’s recent mapping indicates that the discovery is in direct communication with a large upside volume east of the main structure.
As a result, Bridge assesses Asha’s potential in the 30-100 MMboe range, with potential additional volumes of a similar size in neighboring licenses.
Further appraisal drilling could follow.