Europa Oil & Gas (Holdings) PLC 3D Seismic Survey for Offshore Ireland Licence
25 Avril 2017 - 8:01AM
RNS Non-Regulatory
TIDMEOG
Europa Oil & Gas (Holdings) PLC
25 April 2017
Europa Oil & Gas (Holdings) plc / Index: AIM / Epic: EOG /
Sector: Oil & Gas
25 April 2017
Europa Oil & Gas (Holdings) plc ('Europa' or 'the
Company')
3D Seismic Survey for Offshore Ireland Licence
Europa Oil & Gas (Holdings) plc, the AIM traded UK and
Ireland focused oil and gas exploration, development and production
company, is pleased to note the press release issued by TGS on 24
April 2017 regarding its new multi-client acquisition project,
Crean 3D on the Irish Atlantic Margin:
http://www.tgs.com/News/2017/TGS_announces_Crean_3D_multi-client_project_in_Ireland/
The Crean 3D survey will cover all of Europa's LO 16/19 (976
km2). A technical update on LO 16/19 was previously released on 18
July 2016 in which Europa identified the potential for several
Cretaceous submarine fans with gross mean un-risked prospective
resources in the range of 300 million to 1 billion boe:
http://www.europaoil.com/documents/160718LO16_19technicalupdate.pdf
Crean 3D (CRN 3D) is a multi-client survey of more than 5,400
km2 located in the South Porcupine Basin between the Porcupine High
and the Irish Mainland Platform. Subject to Government approval the
survey is expected to commence in June 2017. Data processing will
be performed by TGS using its Clari-FiTM broadband technology.
Subject to obtaining Government consent Europa has farmed out a
70% interest and operatorship in LO 16/19 to a wholly owned
subsidiary of Cairn Energy PLC. Europa will be carried for a US$6
million work programme which will include participation in the
Crean 3D over LO 16/19:
http://www.europaoil.com/documents/170308LO1619IrishFarmOut.pdf
Europa CEO Hugh Mackay said, "The inclusion of our licence in a
5,400 km2 multi-client survey demonstrates the step-up in activity
being seen offshore Ireland. This not only includes the acquisition
of 3D seismic by various operators but also high impact drilling
operations starting this summer. Success at any of the wells
currently being planned would be game-changing for the basin. With
a portfolio of seven licences covering 5,818 sq km, six play types,
three basins, and twenty prospects and leads, Europa will have an
industry leading positon in what would be a new hydrocarbon
province in western Europe."
* * ENDS * *
For further information please visit www.europaoil.com or
contact:
+ 44 (0) 20
Hugh Mackay Europa 7224 3770
+ 44 (0) 20
Phil Greenhalgh Europa 7224 3770
+ 44 (0) 20
Matt Goode finnCap Ltd 7220 0500
+ 44 (0) 20
Simon Hicks finnCap Ltd 7220 0500
St Brides Partners + 44 (0) 20
Frank Buhagiar Ltd 7236 1177
St Brides Partners + 44 (0) 20
Susie Geliher Ltd 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. Its highly prospective exploration projects
include the Wressle oil development in the UK and seven licences
offshore Ireland with the potential to host gross mean un-risked
prospective and indicative resources of more than 4 billion barrels
oil equivalent and 1.5 TCF gas across all seven licences. In 2016
Europa produced 123 boepd from its portfolio of onshore UK
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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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