Europa Oil & Gas (Holdings) PLC Positive Extended Well Test Results on Wressle Discovery


 
TIDMEOG 
 
Europa Oil & Gas (Holdings) plc / Index: AIM / Epic: EOG / Sector: Oil & Gas 
 
21 July 2015 
 
          Europa Oil & Gas (Holdings) plc ('Europa' or 'the Company') 
 
    Positive Results of Extended Well Test on Wressle Discovery, Onshore UK 
 
Europa Oil & Gas (Holdings) plc, the AIM quoted oil and gas company with a 
combination of producing and exploration assets in Europe, is pleased to note 
today's update from Egdon Resources ('Egdon') on the on-going Extended Well 
Test ('EWT') at the Wressle-1 oil and gas well ('Wressle' or 'the Well') on 
Licence PEDL180 in East Lincolnshire.  This includes the recovery of over 180 
barrels of oil equivalent per day ('boepd') following pumped test operations 
over the Penistone Flags oil zone, which exceeds pre-test expectations.  The 
EWT follows the successful testing earlier this year of four intervals at 
Wressle, which recovered a total of 710 boepd from all four payzones.  Europa 
has a 33.3% working interest in PEDL180, alongside Egdon (operator, 25%), 
Celtique Energie Petroleum Ltd (33.3%), Union Jack Oil (8.3%). 
 
As part of the EWT, the Penistone Flags Zone 3A interval was pumped for a 
period of time and achieved average rates over a three day period of 131 
barrels of oil per day ('bopd') and 222,000 cubic feet of gas, equating to 168 
boepd.  The average producing gas oil ratio ('GOR') was 1,700 cubic feet of gas 
per barrel of oil ('scf/stb').  Due to increasing gas rates the pump was then 
stopped and the Well allowed to naturally flow to surface on a series of 
decreasing choke sizes from 12/64" down to 8/64" (being the smallest 
available).  Average rates over a two day period on the 8/64" choke were 105 
bopd with 465,000 cubic feet of gas per day, equating to 182 boepd with an 
average producing GOR of 4,450 scf/stb.  During the course of this flow testing 
no associated formation water was produced. 
 
The gas production rate has increased to the point where it is approaching the 
limits allowed under the environmental permit and as such production from the 
interval has now been halted.  The Well is now being readied for the next 
operation to be conducted, which is an injection test over the Penistone Flags 
zone 3A interval to provide further reservoir data. 
 
It was originally planned for the Ashover Grit oil reservoir to be the first 
interval to undergo a pumped flow test.  Due to problems experienced with the 
downhole testing equipment, test operations were switched to focus initially on 
the shallower Penistone Flags.  Once the injection test of the Penistone Flags 
has been completed, attention will return to resolving the mechanical issues 
and undertaking pumped oil production testing over the Ashover Grit interval. 
 
Europa's CEO, Hugh Mackay said, "182 boepd from just the first interval to be 
pump tested is an excellent result and exceeds pre-test expectations.  With an 
injection test on the Penistone Flags and pumped testing of the Ashover Grit 
interval to follow, we are making good progress towards realising the 
commercial potential of the Wressle discovery, which lies on structural trend 
with and 5 km from the Europa operated Crosby Warren field.  Based on the 
results seen to date and our 33.3% interest in the licence, Wressle has the 
potential to significantly increase our existing UK reserves, production and 
revenues and I look forward to providing further updates on our progress at the 
Well." 
 
                                 * * ENDS * * 
 
For further information please visit http://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            St Brides Partners Ltd        + 44 (0) 20 7236 
Brocklehurst                                    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. In H1/2015 Europa produced 144 boepd 
generating sufficient revenues to cover corporate overheads and some 
exploration expenditure.  Its highly prospective exploration projects include 
the Wressle discovery (recently drilled and tested at an aggregate of 710 boepd 
from 4 zones) in the UK; 100% owned gas exploration prospect (107 bcf) and 
appraisal project (CPR 277 bcf) in onshore France 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 un-risked Prospective Resources approximately 1.7 
billion barrels across both licences. 
 
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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