Bridge Energy has been notified by the Ministry of Petroleum and Energy that it has been awarded four new licences in the 2011 Norwegian APA licensing round. The licences are all located close to the Company's existing Norwegian licence areas in the Norwegian North Sea. Significantly, Bridge is Operator of licence PL629.

Alfred Kjemperud, MD of Bridge Energy Norge commented,'We are extremely pleased to have won these licences, which deliver significant additional prospectivity to our portfolio. The partners and level of equity we hold in these new licences are significant and prove the capability of our technical team.

'We are preparing to start our 2012 drilling campaign of five wells - including the PL457 well in the greater Aldous/Avaldsnes area (now called Johan Sverdrup Field) - and the licences awarded today will extend our prospect inventory, supporting our plan to drill 4-5 exploration wells per year.'

Tags: Bridge Energy