Badger Explorer developer announces 2010 report

The Badger Explorer is a device that drills and buries itself underground to explore for and map the extent of hydrocarbon resources, at a lower risk, cost and complexity of utilising a drilling rig.

In 2010 its developer’s main task was demonstrating the Badger Explorer concept and successful tests took place at the test site in Eastern Norway, leading to the approval of Milestone 2 by the three sponsoring parties Exxonmobil, Shell and Statoil on 7 December 2010.

The company is now preparing for the pre-commercial phase, with cash reserves amounting to NOK98.5m (£10.7m) as of 31 December 2010.

During the fourth quarter of 2010 Badger Explorer has focused on the identification of a proper local clay/shale test site for the completion of step one of Milestone 3 of the prototype phase.