Oct. 2012 - Det norske and its partners announced disappointing results at the Geite prospect offshore Norway. Well 7/11-13 encountered Triassic sandstones as planned but were proved to be void of hydrocarbons. The well will now be plugged and abandoned as a dry hole.

Sep. 2012 - JV partner Bridge Energy announced the start of operations at exploration well 7/11-13 on the Norwegian continental shelf. The well is targeting the Triassic reservoir Geite prospect which is located 19 miles (30 kilometers) west of the Ula field. The Maersk Guardian (350' ILC) is drilling the well and is expected to be on location for a minimum of 80 days.

Sep. 2012 - The Petroleum Safety Authority Norway has given its consent to Det norske to drill their Geite prospect in PL 497. Well 7/11-13 will be drilled using the Maersk Guardian (350' ILC). Drilling is estimated to take approximately 80 days, but could take as long as 135 days if a sidetrack is drilled.

Jun. 2012 - Bridge Energy has executed an agreement with Agora Oil & Gas for the farm-down of a 15-percent working interest in Production Licenses 497 and 497B. After the transaction Bridge Energy will hold a 15-percent working interest in the two licenses. Cairn will, as a consideration for the transaction, carry a substantial share of Bridge Energy's well cost. Geite, the main prospect in the licenses is scheduled for drilling in 3Q 2012.

Jan. 2012 - Det norske announced plans to commence exploratory drilling in licenses PL 497/497B, in the Norwegian sector of the North Sea. Geite, located in a water depth of 262 feet (80 meters), is considered a large 4-way fault dependent closure. The operator plans to drill the prospect in 2Q12.