Bridge Resources Corp. on behalf of its U.K. wholly-owned subsidiary Bridge North Sea Ltd. reports that the Durango 48/21a-4z well has successfully tested at a rate of 42.5 million cubic feet gas and an average 1,341 barrels of 61º API condensate per day on a 1” choke. This rate was constrained by the test facilities. Bridge has a 100% working interest in the Durango Well.

Following Field Development approval by the Secretary of State, Bridge plans to proceed with a tie-in to the Waveney Platform, operated by Perenco, located 14.3 km northeast. First gas is planned for October 1st 2008.

The Durango well penetrated 580 feet of near horizontal reservoir section within the top 15 feet of the gas column at a depth of 9,026 feet. Average porosity is 19% ranging up to 22% and protective sand screens were run in the well bore across the entire reservoir section.

Bridge is currently negotiating a project facility for the development costs but may pursue other financing alternatives.

Tags: Bridge Resources Corp.