Europa Oil & Gas (Holdings) PLC Wressle Production Resumes -- PEDL180/182 (6872S)
08 Noviembre 2023 - 1:00AM
UK Regulatory
TIDMEOG
RNS Number : 6872S
Europa Oil & Gas (Holdings) PLC
08 November 2023
Europa Oil & Gas (Holdings) plc / Index: AIM / Epic: EOG /
Sector: Oil & Gas
8 November 2023
Europa Oil & Gas (Holdings) plc
("Europa" or the "Company")
Wressle Production Resumes - PEDL180/182
Europa Oil & Gas (Holdings) plc, the AIM traded UK and
Ireland focused oil and gas exploration, development and production
company, is pleased to announce that the W1 well at the onshore UK
Wressle oilfield has resumed production. The jet pump and the
associated surface equipment is operating as expected and since
production resumed the W1 well has produced at gross rates of over
950 bbls of oil per day ("bopd"), compared to approximately 750
bopd prior to the jet pump.
The well is now on continuous 24-hour production and is expected
to continue to clean up over the course of the coming days. Once
stabilised production is achieved a further announcement will be
made.
Europa holds a 30% economic interest in PEDL180/182.
Will Holland, Chief Executive Officer of Europa, said:
"We are pleased that the oil production has resumed at Wressle
and that the W1 well is once more producing at impressive rates.
The work has been completed safely and without incident and I look
forward to updating the market again once stable production has
been achieved."
* * ENDS * *
For further information, please visit www.europaoil.com or
contact:
William Holland Europa Oil & Gas (Holdings) mail@europaoil.com
plc
Strand Hanson Limited
- Nominated & Financial +44 (0) 20 7409
James Dance / James Spinney Adviser 3494
+44 (0) 20 7186
Peter Krens Tennyson Securities 9033
Patrick d'Ancona / Finlay + 44 (0) 20 7390
Thomson / Kendall Hill Vigo Consulting 0230
Notes to Editors
Europa Oil & Gas (Holdings) plc has a diversified portfolio
of multi-stage hydrocarbon assets which includes production,
development and exploration interests, in countries that are
politically stable, have transparent licensing processes, and offer
attractive terms. Average net production for the financial year
ending 31 July 2023 was 265 bopd. The Company took over
operatorship of PEDL343 ("Cloughton") on 27 July 2023 in which
Europa holds a 40% interest and contains an estimated 192 billion
cubic feet ("BCF") of gas in place. In April 2022, Europa farmed
into P.2358, Block 13/23c ("Serenity") in the Outer Moray Firth
area of the North Sea. The licence contains the 2019 Serenity oil
discovery, in which Europa has a 25% interest. The Company holds
one exploration licence offshore Ireland, which has two principal
prospects, the largest of which has the potential to host gross
mean un-risked prospective resources of 1.5 trillion cubic feet
("TCF") gas. Inishkea West is a near field gas prospect in the
Slyne Basin which the Company classifies as lower risk due to its
close proximity to the producing Corrib gas field and associated
gas processing infrastructure.
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END
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