Badger Explorer ASA - Statoil Approved Milestone In The Development Program

On 8th July 2016, Statoil approved the third key deliverable of Milestone 1 of the Badger Explorer Development Program; long term testing of the cuttings transport system. The approval released NOK 2.5 million from Statoil.

“Testing the system for several hundred of hours has increased our confidence in the system”, says Øystein Larsen, CEO of BXPL. “We now consider one of the main challenges with the Badger concept solved".

The first parts of Milestone 1, qualification of high power HPHT Ultrasonic Transducers and function testing of the cuttings transport system, were completed and approved by Statoil earlier in 2016.

Stavanger, 11th July 2016

For further information, please contact:
Øystein Larsen, CEO, cell phone +47 932 68 743

www.bxpl.com

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About Us

The Badger Explorer is a technology for exploring and mapping hydrocarbon resources. The tool is equipped with logging sensors and communication solutions. The tool drills into and buries itself in the underground. It operates at a lower risk, lower costs and less complexity than a drilling rig.

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