Badger takes stake in Calidus

Offshore staff

OSLO, Norway --Badger Explorer ASA has secured a controlling 50% interest in Falmouth, UK-based Calidus Engineering for $1.556 million.

The Norwegian company has developed Badger Explorer, a formation and reservoir evaluation tool that can drill autonomously into a subsurface target without the risks and costs associated with a rig drilling an exploration well.

Badger plans to use Calidus' expertise in devising mechanical, hydraulic, and electronic solutions to further development of the Badger Explorer, eventually for offshore applications.

11/15/2007