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Bridge, Paramax hire Meagher for project advice

 
2011-11-04 13:13 ET - News Release
Also News Release (C-PXM) Paramax Resources Ltd


Mr. Nicholas Clayton of Bridge reports
BRIDGE RESOURCES CORP. HIRES MEAGHER ENERGY ADVISORS
Bridge Resources Corp. and its joint venture partner, Paramax Resources Ltd., have retained Meagher Energy Advisors, a U.S.-based company specializing in transactional advisory services, to review strategic alternatives in regard to their Western Idaho basin project. This joint process involves their combined 100-per-cent interest in the Willow and Hamilton development projects. The process is being undertaken with the support of Bridge's senior lenders.
The Western Idaho project consists of two development areas, Willow and Hamilton. Both areas have had initial drilling work completed and have reserves assigned to them. These two fields were discovered in 2010 and appraised by six additional wells. Willow and Hamilton are the first commercial discoveries of oil and gas in the state of Idaho. The majority of the state and county permits have been acquired, including a conditional use permit for a 13-acre site adjacent to the Williams pipeline where a compression and dehydration facility will be located.
Bridge will provide more information in regard to this process as it becomes available.