Bridge Resources Resumes Production from UK North Sea Durango Field

Bridge Resources Corp. (TSX-V: BUK) has resumed production at its UK North Sea Durango Field. Production resumed approximately at 16:00 hours on February 17, 2010. Prior to this, the Waveney Platform operator replace the production meter and conducted platform maintenance.

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Bridge Resources made the decision to shut-in Durango on July 2, 2009 to recover gas reserves backed out during the initial production period that began on November 27, 2008. The well shut-in was facilitated by a financial gas hedge at 50p/therm ($8.00/mcf) on 4.8 bcfg.

Bridge has been repaid 1.4bcfg while the well was shut-in, reducing the back-out gas credit to 0.7 bcf. The payment from back-out gas remained at a high level with Bridge receiving$2.0 million since January 1, 2010. By resuming the production, revenues will increase due to higher net gas volumes at higher prices and associated condensate production of 24 bbls/mmcf.

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