Europa Oil & Gas (Holdings) PLC Commencement of Drilling at Kiln Lane, onshore UK


 
TIDMEOG 
 
Europa Oil & Gas (Holdings) plc / Index: AIM / Epic: EOG / Sector: Oil & Gas 
 
23 February 2015 
 
          Europa Oil & Gas (Holdings) plc (`Europa' or `the Company') 
 
          Commencement of Drilling at Kiln Lane Prospect, onshore UK 
 
Europa Oil & Gas (Holdings) plc, the AIM quoted oil and gas exploration and 
development company with a combination of producing and exploration assets in 
Europe, is pleased to announce its Kiln Lane -1 conventional exploration well 
(`Kiln Lane') on Licence PEDL 181 in Northeast Lincolnshire spudded at 0706 
hours on 23 February 2015. The Company estimates Kiln Lane has mean gross 
un-risked recoverable resources of 2.9 million barrels of oil. Europa is 
operator of and has a 50% working interest in PEDL 181, which covers an area of 
over 540 km2 in the East Midlands Petroleum Province. Egdon Resources and 
Celtique Energie Petroleum Ltd each have a 25% interest in the Licence. 
 
The planned well will be drilled as a straight hole to a total depth of 
approximately 2,500 metres. Europa anticipates drilling operations will take 36 
days. The Kiln Lane prospect is a robust structural closure defined on 3-D 
seismic data and the well has been designed to intersect a number of 
prospective Upper Carboniferous age sandstone reservoirs in a structurally 
favourable position near the crest of the structure. Kiln Lane is located some 
25 km east of both Europa's Crosby Warren field, which has been producing oil 
for almost 28 years, and the recent Egdon-operated Wressle-1 oil discovery in 
PEDL 180 in which Europa has a 33.3% interest. The prospect is a typical East 
Midlands Petroleum Province oil play but in a comparatively underexplored part 
of the basin. 
 
In the event of exploration success Europa will suspend the well and return 
with a dedicated test rig for production testing operations in a similar 
fashion to the current testing operations at Wressle. Should production testing 
prove successful Europa will follow up with an extended well test with the 
intention of obtaining more detailed reservoir performance information to 
enable fast track development. Success at Kiln Lane also has the potential to 
substantially de-risk a number of other exploration leads in the licence area 
for possible follow-up drilling. Kiln Lane is a conventional exploration well 
targeting oil in Upper Carboniferous sandstone reservoirs. It is not a shale 
gas well and therefore operations at the site will not involve high volume 
unconventional hydraulic fracturing. 
 
Europa's CEO, Hugh Mackay said, ""We are delighted to commence operations on 
the Kiln Lane conventional oil prospect and we look forward to updating 
shareholders with the results from this well towards the end of March. I wish 
to thank our geoscience, operations and permitting teams all of whom have 
delivered excellent performance and have brought the well to spud on schedule 
against a tight timeframe. We are encouraged by the recent discovery of oil at 
the neighbouring Wressle well and we hope that Kiln Lane will be similarly 
successful and provide another opportunity to build on our existing oil 
production and revenues from conventional oil fields in the East Midlands 
Petroleum Province." 
 
                                 * * ENDS * * 
 
For further information please visit www.europaoil.com or contact: 
 
Hugh Mackay         Europa                          + 44 (0) 20 7224 3770 
 
Phil Greenhalgh     Europa                          + 44 (0) 20 7224 3770 
 
Matt Goode          finnCap Ltd                     +44 (0) 20 7220 0500 
 
Simon Hicks         finnCap Ltd                     +44 (0) 20 7220 0500 
 
Frank Buhagiar      St Brides Partners Ltd          +44 (0) 20 7236 1177 
 
Lottie Brocklehurst St Brides Partners Ltd          +44 (0) 20 7236 1177 
 
Notes 
 
Europa Oil & Gas (Holdings) plc has a diversified portfolio of multi-stage 
hydrocarbon assets that includes production, exploration and development 
interests, in countries that are politically stable, have transparent licensing 
processes, and offer attractive terms. The Company produced 165 boepd in the UK 
during the 2013/2014 financial year, generating sufficient revenues to cover 
corporate overheads and some exploration expenditure. Its highly prospective 
exploration projects include the Wressle (recently drilled and undergoing 
testing) and Kiln Lane prospects in the UK; 100% owned gas exploration prospect 
(107 bcf) and appraisal project (CPR 277 bcf) in onshore Franc a joint venture 
with Vermillion Energy also in onshore France; and a joint venture with leading 
independent Kosmos to explore two licences in offshore Ireland with the 
potential to host gross mean unrisked prospective resources of 1.5 billion 
barrels. 
 
Qualified Person Review 
 
This release has been reviewed by Hugh Mackay, Chief Executive of Europa, who 
is a petroleum geologist with 30 years' experience in petroleum exploration and 
a member of the Petroleum Exploration Society of Great Britain, American 
Association of Petroleum Geologists and Fellow of the Geological Society. Mr 
Mackay has consented to the inclusion of the technical information in this 
release in the form and context in which it appears. 
 
 
 
END
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