Europa Oil & Gas (Holdings) PLC Commencement of Oil Flow at Wressle Field (4571N)
01 Febrero 2021 - 1:00AM
UK Regulatory
TIDMEOG
RNS Number : 4571N
Europa Oil & Gas (Holdings) PLC
01 February 2021
Europa Oil & Gas (Holdings) plc / Index: AIM / Epic: EOG /
Sector: Oil & Gas
Europa Oil & Gas (Holdings) plc ('Europa' or 'the
Company')
Commencement of Oil Flow at Wressle Field
Europa Oil & Gas (Holdings) plc, the UK , Ireland and
Morocco focused oil and gas exploration, development and production
company, is pleased to announce that commencement of oil flow has
been achieved at the Wressle Oil Field ('Wressle' ) in North
Lincolnshire . This follows the successful and safe completion of o
perations to recomplete the Wressle-1 well ('the Well') and
reperforate the Ashover Grit reservoir interval , in line with the
previously advised schedule. Wressle lies on licences PEDL180 &
182 in which Europa holds a 30% working interest alongside Egdon
Resources (30% and operator ), and Union Jack Oil ( 40 %).
Following the reperforation and successful communication with
the Ashover Grit reservoir interval , free-flow of oil has
commenced and the W ell has been placed on continuous 24 hour test
production. The W ell is currently in the normal clean-up phase ,
as it is carefully brought on-stream. A further detailed update
will be provided once flow rates have stabilised on completion of
clean-up.
Oil p roduced from Wressle will be transported by road tanker to
the Phillips 66 Humber refinery and sold under the operator's
existing oil sales contract.
Simon Oddie, CEO of Europa, said : "The successful and safe
completion of operations to recomplete and reperforate the
Wressle-1 well on schedule, in spite of the ongoing pandemic and
associated lockdown, is testament to the professionalism and
expertise of the team on the ground. W ith Wressle-1 currently on
continuous 24 - hour test production , I look forward to providing
further updates once it has cleaned up and flow rates have
stabilised."
Further information on Wressle
The Wressle-1 well was drilled in 2014 and tested in 2015. D
uring testing, a total of 710 barrels of oil equivalent per day
were recovered from three separate reservoirs: the Ashover Grit;
the Wingfield Flags; and the Penistone Flags. In September 2016, a
Competent Person's Report ('CPR') provided independent estimates of
reserves and contingent and prospective oil and gas resources for
Wressle of 2.15 million stock tank barrels classified as discovered
(2P+2C). Further development of Wressle, including producing
additional reserves existing in the Penistone Flags formation, is
expected in the future.
Qualified Person Review
This release has been reviewed by Rowland Thomas, geophysical
advisor to Europa, who is a geophysicist with over 39 years'
experience in petroleum exploration and a member of the Society of
Exploration Geophysicists, European Association of Geoscientists
and Engineers and the Petroleum Exploration Society of Great
Britain, and has consented to the inclusion of the technical
information in this release in the form and context in which it
appears.
* * ENDS * *
For further information please visit www.europaoil.com or
contact:
Simon Oddie Europa mail@europaoil.com
Murray Johnson Europa
Christopher + 44 (0) 20 7220
Raggett finnCap Ltd 0500
+ 44 (0) 20 7220
Simon Hicks finnCap Ltd 0500
+ 44 (0) 20 7236
Frank Buhagiar St Brides Partners Ltd 1177
+ 44 (0) 20 7236
Megan Dennison St Brides Partners Ltd 1177
Notes
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. In terms of production, in the year to 31(st)
July 2020 Europa produced 92 boepd. Production is expected to
increase to over 200 boepd once the Wressle field reaches full
production.
The Company holds four exploration licences offshore Ireland
which have the potential to host gross mean un-risked prospective
resources of 2.7* trillion cubic feet ('tcf') gas (*subject to
regulatory approval for the transfer of FEL 3/19). The Company's
flagship projects offshore Ireland are Inishkea and Edge, two near
field gas prospects in the Slyne Basin which the Company classifies
as lower risk infrastructure-led exploration due to their close
proximity to the producing Corrib gas field and associated gas
processing infrastructure. In September 2019, Europa was awarded a
75% interest in the Inezgane permit offshore Morocco. Initial
results of technical work have identified 30 prospects and leads
that have the potential to hold in excess of one billion barrels of
unrisked oil resources.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
UPDFZGFMRMDGMZM
(END) Dow Jones Newswires
February 01, 2021 02:00 ET (07:00 GMT)
Europa Oil & Gas (holdin... (LSE:EOG)
Gráfica de Acción Histórica
De Mar 2024 a Abr 2024
Europa Oil & Gas (holdin... (LSE:EOG)
Gráfica de Acción Histórica
De Abr 2023 a Abr 2024