NewsBridge Resources Corp. Provides Drilling Update on Durango Well
CALGARY, ALBERTA, May 08, 2008 (MARKET WIRE via COMTEX News Network) --
Bridge Resources Corp. (TSX VENTURE: BUK) ("Bridge") is pleased to announce that the Bridge North Sea Ltd Durango 48/21a-4z well has confirmed highly porous gas bearing reservoir.
The top of the Leman Sand reservoir was penetrated on prognosis four feet high to the original 1967 48/21-1 discovery well located 350m east that tested 20.8 mmcfgd and 628 bopd. The sand in the current well has excellent reservoir properties from logging- while-drilling results coupled with high C1 through C5 gas shows.
The original well was a vertical bore whereas the current well bore is angled at 89 degrees for a 700 feet penetration across the top 15 feet of the reservoir. The lowest point at the end of this near-horizontal penetration will be 55 feet above the gas-water contact to minimize water production later in field life. Over 300 feet of reservoir has been penetrated by report time.
The well completion phase will include the installation of the fully-completed sub-sea well head and tree. The well will then be flow tested to acquire detailed gas and condensate parameters for final design modifications to the host Waveney Platform 14.3 km northeast.
The flow testing of the well is expected to be completed over the next few weeks and results of the testing will be released when complete.
Safe Harbour
Statements in this press release may contain forward-looking information including expectations of future operations, commerciality of any gas discovered, operating costs, commodity prices, administrative costs, commodity price risk management activity, acquisitions and dispositions, capital spending, access to credit facilities, income and oil taxes, regulatory changes, and other components of cash flow and earnings. The reader is cautioned that assumptions used in the preparation of such information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the company. These risks include, but are not limited to, the risks associated with the oil and gas industry, commodity prices and exchange rate changes. Industry related risks could include, but are not limited to, operational risks in exploration, development and production, delays or changes in plans, risks associated to the uncertainty of reserve estimates, or reservoir performance, health and safety risks and the uncertainty of estimates and projections of production, costs and expenses. The reader is cautioned not to place undue reliance on this forward-looking information.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy and accuracy of this information.
Contacts:
Bridge Resources Corp.
Edward J. Davies
President
(303) 831-9022
Email: ejd@bridgeresourcescorp.com
Bridge Resources Corp.
Dave Antony
Chairman
(403) 531-1710
Email: dantony@bridgeresourcescorp.com
Bridge Resources Corp.
Scott Koyich
Investor Relations
(403) 215-5979
Email: skoyich@bridgeresourcescorp.com
Website: www.bridgeresourcescorp.com
SOURCE: Bridge Resources Corp.
mailto:ejd@bridgeresourcescorp.com mailto:dantony@bridgeresourcescorp.com mailto:skoyich@bridgeresourcescorp.com https://www.bridgeresourcescorp.com
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