BADGER EXPLORER ASA – A NEW SUCCESSFUL DEMONSTRATION OF THE CONCEPT HAS BEEN PERFORMED BELOW GROUND AND WATER LEVEL
Badger Explorer ASA is proud to announce that during the last weekend (15 - 17 October 2010) another successful demonstration of the Badger Explorer tool has been performed. This test was done with the Badger Explorer tool drilling, processing the drill fluid and compacting solids into a plug under ground level. The complete tool was operated fully submerged under water.
BXPL (Badger Explorer ASA) reported in a press release on 28 April 2010 that the “proof of concept” had successfully been performed. At BXPLs 1H 2010 investor presentations it was announced that an additional test would be performed which has now been conducted.
The successful demonstration last weekend comprised the operation of the tool over several hours and included functions that have been adjusted and improved since the April demonstration.
BXPL will release its 3Q 2010 Report the evening of 20 October. 3Q investor presentations will take place in Oslo 21 October and in Stavanger 22 October. Further details of the successful demonstration will be given in the 3Q 2010 Report and at the 3Q investor presentation.
Stavanger, 18.10.2010
For further information, please contact:
Kjell Erik Drevdal, CEO, cell phone +47 916 43 552, office +47 52 97 45 15
Gunnar Dolven, CFO, cell phone +47 908 53 168, office +47 52 97 45 40
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