BADGER EXPLORER: TESTS STARTED WITH SUCCESSFUL RESULTS
Stavanger, 7th of May 2007: Badger Explorer ASA has established a site for testing the revolutionary Badger Explorer technology at Rosenberg Yard in Stavanger. All modules necessary for the ongoing full scale integrated system function test have been delivered and all tests conducted so far show encouraging results. A successful system integration test will be an important milestone in the development towards a commercial launch. The Badger Explorer is a revolutionary new method/device for hydrocarbon exploration, which drills and buries itself into the underground, carrying a full package of logging sensors, at a substantial lower risk, cost and complexity of utilising an expensive drilling rig. The Badger-project has received great interest both from authorities as well as industry players. Among the company`s technology development partners are the oil companies Exxon Mobil, Shell and Statoil.Since commencement the project has developed positively. At the Rosenberg test site the first full scale system functions testing of the Badger Explorer prototype has started and is currently ongoing according to plan. All modules and components planned for at this stage are now manufactured and have been delivered at the test site. All tests conducted so far show encouraging results. The company plans to run the remaining sub system tests over the coming weeks with the goal to perform a full integrated system functions test to verify the Badger Explorer functionality within 2Q 2007. The target for the first commercial Badger Explorer is to be launched during 2H 2008. The oil and gas market is developing in favour of Badger Explorer and the demand for such a viable concept with regards to reduced risk and exposure to offshore personnel, more economic exploration, faster mobilization and a much more environmentally friendly solution is continuously being strengthened. Badger Explorer ASA applied for listing on Oslo Axess on the 23rd of April and aims to become listed by mid June. For more information: Kjell Erik Drevdal, CEO, +47 916 43 552 Or www.bxpl.com