Europa Oil & Gas (Holdings) PLC Geothermal Update on West Firsby (3900W)
22 Diciembre 2021 - 12:59AM
UK Regulatory
TIDMEOG
RNS Number : 3900W
Europa Oil & Gas (Holdings) PLC
22 December 2021
Europa Oil & Gas (Holdings) plc / Index: AIM / Epic: EOG /
Sector: Oil & Gas
22 December 2021
Europa Oil & Gas (Holdings) plc ('Europa' or 'the
Company')
Geothermal Update on West Firsby
Europa Oil & Gas (Holdings) plc, the UK, Ireland and Morocco
focused oil and gas exploration, development and production company
has today updated the market on progress related to t he potential
of West Firsby as a test site for sustainable, clean geothermal
energy systems.
Europa is pleased to note yesterday's announcement by Baker
Hughes and CausewayGT entitled, " Baker Hughes and CausewayGT agree
to collaborate on geothermal energy projects and technology
development ", indicating that the consortium will be undertaking a
geothermal clean heat project at West Firsby. The release states
that, if this project is successful, it " will prove the
operational ability to extract and use geothermal heat throughout
Europe".
Europa previously announced on 30(th) June 2021, the signing of
an MOU with Causeway Geothermal (NI) Ltd to carry out geothermal
studies to assess the potential of West Firsby as a test site for
sustainable, clean geothermal energy systems.
Simon Oddie, CEO of Europa, said:
"I am excited to see that Baker Hughes and CausewayGT have
agreed to collaborate on geothermal projects and have concluded
that the West Firsby Oilfield, which is owned and operated by
Europa, is a suitable candidate for developing a closed loop
geothermal system. This project has significant implications for
Europa and could result in some of our well stock being repurposed
to generate emission free geothermal energy. I look forward to
working with Baker Hughes and CausewayGT on this project, which
forms an important part of Europa's ESG initiative, and will
provide further updates in due course as the project
progresses."
Background
West Firsby is an excellent opportunity to evaluate, test and
prove different technical aspects of geothermal systems. Located in
the East Midlands, West Firsby is late in its productive life with
nine wellbores with seven wellheads. The wellbores extend over an
area of 2.5 km2 and to a depth of 1,680 m. The existing well bores,
together with the availability of data collected over the last 34
years and the geothermal gradient, make West Firsby one of the best
candidates in the UK for testing geothermal solutions.
* * ENDS * *
For further information please visit www.europaoil.com or
contact:
Simon Oddie Europa mail@europaoil.com
Murray Johnson Europa mail@europaoil.com
+ 44 (0) 20 7220
Christopher Raggett finnCap Ltd 0500
+ 44 (0) 20 7220
Simon Hicks finnCap Ltd 0500
Turner Pope Investments +44 (0) 20 3657
James Pope (TPI) Ltd 0050
Turner Pope Investments +44 (0) 20 3657
Andrew Thacker (TPI)_ Ltd 0050
+ 44 (0) 20 7236
Susie Geliher St Brides Partners Ltd 1177
+ 44 (0) 20 7236
Oonagh Reidy St Brides Partners Ltd 1177
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. Production, in the year to 31st July 2021 Europa
produced 93 boepd. Production has since increased to over 200 boepd
with the Wressle field 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). Inishkea and Edge, two near field gas
prospects in the Slyne Basin which the Company classifies as lower
risk 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.
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