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EG-08 Revised Prospective Resources
EG-08 Revised Prospective Resources.
About this update from Europa Oil & Gas (holdings) Plc
[{"type":"text","content":"\n\nEuropa Oil & Gas (Holdings) plc / Index: AIM / Epic: EOG / Sector: Oil & Gas\n \n22 July 2024\n \nEuropa Oil & Gas (Holdings) plc\n(\"Europa\" or the \"Company\")\n \nEG-08 Revised Prospective Resources\n \nEuropa Oil & Gas (Holdings) plc, the AIM quoted UK, Ireland and West Africa focused oil and gas exploration, development and production company, is pleased to announce that an additional 716 BCF of unrisked Prospective Resources have been identified on the EG-08 block bringing the total gross unrisked Mean Prospective Resources on the block to 2.116 TCFe.\n \nFollowing the acquisition of a 42.9% equity interest in Antler Global Limited (\"Antler\"), announced on 21 December 2023, Antler and our technical team has further evaluated the seismic data across the originally identified three prospects and completed a study to identify additional prospectivity on the EG-08 block. Antler holds a 80% interest in the EG-08 production sharing contract, located offshore Equatorial Guinea, with Guinea Ecuatorialde Petroleos (\"GEPetrol\"), the National oil company, holding the remaining 20%. The further technical evaluation of the seismic data has resulted in a Mean Prospective Resource of 2.116 TCF (internal estimate) for the block as detailed in the following table and summarised below:\n \n\nThe net attributable percentage to Europa is 34%[1]\n \n· 798 BCFe Pmean identified in the primary prospect (\"Barracuda\") in strata equivalent to the producing Alen Field (the \"Alen Strata\") in Block O located 9 km from Barracuda\n· 599 BCFe Pmean identified in two low risk tie-in prospects (Cardinal & Arrowhead) in the Alen Strata\n· 344 BCFe Pmean identified in four additional higher risk prospects in the Alen Strata\n· 375 BCFe Pmean identified in two additional leads\n· Revised economic analysis indicates that the minimum gross volume of a commercial discovery could be in the order of 90 BCFe (15.2 MMBOE)\n \nThis stage of technical work on the block is complete and the data is now being loaded into a data room, which will be open in the coming weeks. Upstream companies will be invited to sign a confidentiality agreement and then be given access to the data room, however ahead of starting ...