Oil and gas operator Bridge Energy said yesterday it had enjoyed a transformational final quarter last year.
The firm said three commercial oil discoveries in the North Sea had added to its reserves of 20million barrels of oil equivalent. It also confirmed plans to drill two further explorations wells this year.
Chief executive Tom Reynolds said: “Following our listing on the Alternative Investment Market . . . in September . . . we have had significant success with the drillbit, drilling three discoveries from four exploration wells. With our producing assets providing cash flow to support our . . . exploration activities, we are well positioned to continue maturing our substantial portfolio.”
The firm said three commercial oil discoveries in the North Sea had added to its reserves of 20million barrels of oil equivalent. It also confirmed plans to drill two further explorations wells this year.
Chief executive Tom Reynolds said: “Following our listing on the Alternative Investment Market . . . in September . . . we have had significant success with the drillbit, drilling three discoveries from four exploration wells. With our producing assets providing cash flow to support our . . . exploration activities, we are well positioned to continue maturing our substantial portfolio.”
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