18 Nov 2013

Bridge Energy ASA

("Bridge", "Group" or the "Company")

Proposed Cancellation from AIM

Bridge, the Oslo Børs and AIM listed oil and gas exploration and production company (OSE:BRIDGE/AIM:BRDG.L) notes the announcement by Spike Exploration ("Spike" or the "Offeror") confirming completion of the settlement of the voluntary tender offer (the "Offer") to acquire all outstanding shares in the Company (the "Shares"). Further, it notes that the Offeror now owns 61,943,520 Shares, representing approximately 97.7 % of the shares and votes in the Company.

Following completion of the Offer, the Offeror intends to initiate a compulsory acquisition of the remaining Shares in the Company not owned by the Offeror in accordance with applicable laws, and to propose that the Company applies for a delisting of the Shares from the Oslo Børs and AIM. It is expected that a compulsory acquisition of the remaining Shares in the Company will be carried out during the week starting 18 November 2013.

At the request of the Offeror, the Company is, in accordance with Rule 41 of the AIM Rules for Companies, notifying its intention to cancel the admission to trading on AIM of the Shares (the "Cancellation") and the Company confirms that it is applying to the London Stock Exchange for Cancellation.

It is expected that Cancellation will occur at 7.00 a.m. on 17 December 2013 after which time the Company's Shares will no longer be admitted to trading on AIM.

Following completion of the Offer and the compulsory acquisition of the remaining Shares in the Company, the Offeror will be the sole shareholder in the Company and it intends to re-register the Company as a private limited company.

The Company confirms that, pursuant to AIM Rule 41, it intends to seek Shareholder consent for the Cancellation at a general meeting of the Company, and that it intends to give notice to Shareholders convening such a general meeting on or around 21 November 2013, subject to completion of the compulsory acquisition of the Shares.


For further information please contact:

Bridge Energy
Bill McCall, Chairman
+44 1224 659 120

Cenkos Securities
Jon Fitzpatrick
+44 207 397 1951
Neil McDonald
+44 131 220 9771

FTI Consulting
Edward Westropp/Natalia Erikssen
+44 20 7831 3113

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