Europa Oil & Gas (Holdings) PLC Atlantic Ireland Conference & Farm-out Update
29 Octobre 2019 - 8:00AM
RNS Non-Regulatory
TIDMEOG
Europa Oil & Gas (Holdings) PLC
29 October 2019
Europa Oil & Gas (Holdings) plc / Index: AIM / Epic: EOG /
Sector: Oil & Gas
Europa Oil & Gas (Holdings) plc
('Europa' or 'the Company')
Atlantic Ireland Conference
Europa will be participating in the Atlantic Ireland conference
in Dublin on 29 and 30 October 2019.
Europa will be presenting "The Jurassic and Cretaceous Petroleum
System of the East Flank of the Porcupine Basin: Implications for
Prospectivity in Licences FEL 1/17 and FEL 3/13". The presentation
will be made available on Europa's website later today.
South Porcupine basin is 50,000 km(2) and with just four wells
is underexplored. It is considered a frontier basin but oil, gas
and condensate have been production tested and both source and
reservoir are proven. The east flank is undrilled.
The commercial threshold is 200 mmbo and 5,000 bopd per
production well. Europa's east flank prospects in FEL 1/17 and 3/13
have the potential to meet these criteria.
Recent South Porcupine deepwater drilling performance has been
excellent. Harsh environment FPSO production is a proven technology
and is currently in use in the UKCS and Norway..
Ireland Operations and Farm-out Update
As previously announced, Europa has had farmout negotiations in
respect of FEL 4/19, FEL 1/17 and FEL 3/13 with the NW Europe
division of a major oil company (the 'Major') ongoing for more than
twelve months.
During this time, we have continued to market the licences to
other potential partners. The Company is focused on being in a
position to drill the Inishkea prospect at the earliest opportunity
and farmout discussions are continuing with a number of parties. We
will report any material developments in relation to these
discussions when finalised.
The site survey process for a drilling location at Inishkea is
continuing. The second public consultation was completed on 13
October 2019 and the Company hopes to obtain permission for the
survey to be conducted during summer 2020, to enable drilling to
occur during 2021.
* * ENDS * *
For further information please visit www.europaoil.com or
contact:
+ 44 (0) 20 7224
Hugh Mackay Europa 3770
+ 44 (0) 20 7224
Phil Greenhalgh Europa 3770
+ 44 (0) 20 7220
Matt Goode finnCap Ltd 0500
+ 44 (0) 20 7220
Simon Hicks finnCap Ltd 0500
+ 44 (0) 20 7220
Camille Gochez finnCap Ltd 0500
+ 44 (0) 20 7236
Frank Buhagiar St Brides Partners Ltd 1177
+ 44 (0) 20 7236
Juliet Earl St Brides Partners Ltd 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 2018/19 Europa produced 91 boepd. Its highly
prospective exploration projects include the Wressle development in
the UK (targeting production start-up in 2020 at 500 bopd gross)
and six licences offshore Ireland with the potential to host gross
mean un-risked prospective resources of 6.4 billion barrels oil
equivalent and 1.5 tcf gas across all six licences. The Company's
flagship project offshore Ireland is the Inishkea prospect - a near
field gas exploration project with 1.5 trillion cubic feet ('TCF')
gross mean un-risked prospective gas 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.
END
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