Analyst Research Report Snapshot

Title:

BRIDGE ENERGY - RE-RATING POTENTIAL DEPENDS ON DEALS

Price:

$10.00

Provider:

Edison Investment Research

Date:

11 Sep 2013

Pages:

10

Type:

AcrobatPDF

Companies referenced:

BRIDGE.OL

Available for Immediate Download
Summary:

Bridge has announced a relatively flat period-on-period performance for its H113 results. However, we would urge investors to look at what it is not talking much about, namely the potential for asset sales, as the main reason to consider the stock. Bridge has prime North Sea acreage, especially in the Utsira High area, along with an impressive exploration track record. With favourable markets and shrewd deal-making we consider Bridge has the ingredients to effect a significant re-rating of the stock. PL457 in particular is the trump card and, with the right deal, it could rapidly more than double both production and producing reserves.

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