Bridge Energy shares fell 6% today after an announcement that no oil or gas was found on the Geite prospect.
The Aberdeen-headquartered firm, which started trading on the Alternative Investment Market last month, has a 15% stake in the Norwegian North Sea licence containing Geite.
Det Norske, which operates and holds 35% in the licence, near BP’s producing Ula field, said the well would now be plugged and abandoned.
Other partners in the well were Dana Petroleum Norway, with 25%, Agora Oil & Gas with 15% and Lotos Exploration and Production Norge with 10%.
Bridge is also currently taking part in drilling on the Garantiana prospect in the Norwegian North Sea where it has a 20% interest and the Contender exploration well in the UK, where it has a 4% stake.
The firm will also be taking part in a multi-target exploration well on the western flank of the Utsira High in the Norwegian North Sea, in which it has a 20% stake, expected to start soon.