Bridge Energy increased resource estimates for the 16/1 Asha oil discovery in the Norwegian North Sea (previously announced in December 2012). This follows completion of well operations on 16/1-16 and the sidetrack well 16/1-16A on 1st January 2013 and further analysis carried out since then.

As previously reported, the Asha discovery encountered good quality oil in excellent reservoirs within the Middle Jurassic Hugin Formation and Triassic Skagerrak Formation. A preliminary estimate of the size of the Asha discovery was reported to be between 25 and 35 mmboe recoverable resources within PL457, which excluded potential additional volumes outside the licence.

Recent updates in mapping by the operator indicate that the Asha discovery is in direct communication with a large upside volume to the east of the main structure. These volumes are in addition to the volumes reported previously.

Tags: Bridge Energy