Norway: Bjorge Gretland Resigns from Badger Explorer ASA
- Business & Finance
Bjørge Gretland has informed Badger Explorer ASA that he will resign as a member of the Company’s Board of Directors effective from 4 October 2010 due to the fact that he has moved to Silicon Valley (California) for the duration of one year.
Following this, the Board of Directors will comprise Rolf E. Ahlqvist (chairman), Christian Bull Eriksson, Kristine Holm and Tone Kvåle.
A replacement for Mr. Gretland will be elected at an Extraordinary General Meeting to be held during 4Q 2010.
Information about Badger Explorer ASA
The Badger Explorer is a revolutionary new method/device to explore for and map the extent of hydrocarbon resources. The Badger Explorer 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 tool penetrates the sea bed and the underground by using a mechanical drill bit driven by an electrical motor to loosen and crush the formation ahead of the tool. The crushed formation is transported through the device and deposited in the void behind the tool and the excess volume forced and injected into the formation through fractures generated by the Badger Explorer.
The tool carries an electrical cable, which is spooled up inside the unit, connected to the surface and powers the electrical motors. The same cable is used for continous transfer of data back to the surface.
Source: Badger Exploration ASA,September 23, 2010,