Badger Explorer ASA – 8 MNOK Field Pilot Funds Granted by the Research Council of Norway
The Research Council of Norway (RCN) has released the details of their resolution regarding Badger Explorer ASA’s (BXPL) application through the Demo2000 program for the support of the Badger Explorer Seismic Field Demonstrator.
BXPL has been granted funds of 8 MNOK from the Research Council of Norway, equivalent to the full amount applied for. The project in question is planned to commence in January 2012 with duration of three years. The project cost is estimated to be in the region of 32 MNOK and the grant is subject to RCN standard terms. BXPL’s contribution will be approximately equivalent to the RCN grant, and it will consist of project execution, technological solutions, IPR, work-shop services and general project support.
The project’s main goal is to qualify together with industry partners the Badger solutions required to deliver the first commercial Badger application and to use the Badger tool as a carrier for seismic and/or EM transmitters and receivers to map new resources and monitor the exploitation of resources in mature fields.
Stavanger, 16 November 2011
For further information, please contact:
David W. Blacklaw, CEO, cell phone +47 406 44 010, office +47 52 97 45 50
Gunnar Dolven, CFO, cell phone +47 908 53 168, office +47 52 97 45 40
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