• Text size      
  • Send this article to a friend
  • Print this article

Bridge Energy pleased by Garantiana drilling results

AIM-LISTED Bridge Energy says it is encouraged by the results of drilling on the Garantiana site in the northern North Sea.

The Aberdeen company, which is also listed on the Oslo stock market, holds a 20% stake in the licence along with Det norske and Svenska Petroleum while operator Total has a 40% stake.

A good reservoir of oil was found with the discovery estimated to be between 25 and 75 million barrels of recoverable oil.

It was confirmed a second exploration well is planned for the area.

Bridge Energy chief executive Tom Reynolds, said: "The find adds significant resources to Bridge as it stands now and the adjacent prospects on the licence offer the potential of further upside." Bridge's shares were up more than 3% to 116.5p.

Contextual targeting label: 

Commenting & Moderation

We moderate all comments on HeraldScotland on either a pre-moderated or post-moderated basis.
If you're a relatively new user then your comments will be reviewed before publication and if we know you well and trust you then your comments will be subject to moderation only if other users or the moderators believe you've broken the rules

Moderation is undertaken full-time 9am-6pm on weekdays, and on a part-time basis outwith those hours. Please be patient if your posts are not approved instantly.