Badger Explorer Demo50 jig-assisted tests completed in Denmark

7/2/2008, 3:14 PM (Source: GlobeNewswire)
Badger Explorer ASA (BXPL) has according to plan successfully
completed the first part of its Demo50 full scale prototype test at
the test site in Denmark. The tests, which have been performed
onshore in an area with relevant geology, show encouraging results
and prove that the area and the prototype unit are well-suited for
the rest of the Demo50 tests to be performed during the second half
of this year.

"We are very pleased with the execution of this test phase, which has
yielded valuable results and experience. The achievements verify the
design and the capabilities of the technology at this stage and
represent yet another step towards a commercial launch of Badger
Explorer. We will now proceed with the assembling of the
semi-autonomous drilling unit, which will undergo a sub-terranean
self-burying drilling test at the same site in Q3 this year", says
CEO Kjell Erik Drevdal.

The Badger Explorer is a revolutionary new method/device for
hydrocarbon exploration, providing a substantial lower risk, cost and
complexity than utilising an expensive drilling rig. The Badger
Explorer technology is subject to a lot of attention in the industry,
both among authorities as well as large and small industry players
from all over the world. The method/ device will also lower the risk
for environmental pollution and greatly reduce the disturbances
commonly associated with exploration activities.

Among the company's technology development partners and steering
committee members are the oil companies Exxon Mobil, Shell and
StatoilHydro. These companies have previously secured first right of
refusal to buy the full manufacturing and operational capacity of
Badger Explorers at market price for a period of three years from
commercialization (Shell pending signature). Calidus Engineering
Ltd., the company in which Badger Explorer acquired a 50% stake
December 2007, is now contributing to a large extent by delivering
sophisticated hydraulic and electrical power systems as well as
integrated electronic control systems.

The Demo50 tests completed in the second quarter focused mainly on
the following modules/functions; drilling and pump module and
cuttings/ fluid transportation. In addition, the purpose of the tests
was to gain operational experience from the test site and the area,
associate with suppliers of services and equipment, test improved
techniques in separating cuttings and fluid, and verify the
suitability of the geology for further testing. All were
satisfactorily accomplished ultimo June 2008 and all assumptions were
verified.

BXPL are now proceeding with further assembling of the prototype in
order to initiate and complete testing of a semi-autonomous drilling
unit within the third quarter 2008.

The target for the first commercial Badger Explorer is to be launched
during 1H 2010. The oil and gas market is developing in favour of
Badger Explorer, as underlined with all-time high oil prices, and the
demand for such a viable concept is continuously being strengthened.

Further information, please contact:
Kjell Erik Drevdal, CEO, Badger Explorer ASA, office +47 529 74515,
mob + 47 916 43552
Gunnar Dolven, CFO, Badger Explorer ASA, office +47 529 74540, mob
+47 908 53168

Please visit: www.bxpl.com
Copyright GlobeNewswire, Inc. 2016. All rights reserved.
You can register yourself on the website to receive press releases directly via e-mail to your own e-mail account.