Bridge eyes European waters after listing
Reynolds, who runs the firm from Aberdeen, was due to ring the bell in London this morning to signal the start of trading.
He said Bridge would consider moving into the Danish and Dutch markets but that any deal would have to be attractive because the firm has built up £132 million-worth of losses to offset against tax on UK production.
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Hide AdBridge Energy, which is already listed on Norway’s stock market, was created in 2010 through the merger of Bridge Energy and Silverstone Energy.
Reynolds has a busy autumn ahead of him to drum up support for the company, with presentations at the World Independent Oil Companies Congress next month and the Oil Barrel Conference in November.
His comments came as fellow Aim-quoted explorer Trap Oil narrowed its interim losses to £1.6m in the six months to 30 June from £1.8m, with revenues virtually flat at £770,000.
Mark Groves Gidney, chief executive at Trap, which bought Aberdeenshire-based Reach Oil & Gas last year, said two exploration wells in the later half of the year could be “transformational” for the company.