Business
Exploration Operations Update
Exploration Operations Update.
About this update from Europa Oil & Gas (holdings) Plc
[{"type":"text","content":"\n \nExploration Operations Update\n\nThe Directors of Europa Oil & Gas (Holdings) plc, the AIM-listed production and\nexploration company, are pleased to provide an operational update on some of\nthe Company's near-term exploration activities. The Company is currently\nanticipating spudding 3 wells in the next 3 months and expecting at least\nanother 2 further wells in its 2007 drilling programme.\n\nUK onshore - PEDL143 (Holmwood Prospect - Weald Basin)\n\nEuropa and its partners have submitted a Planning Application for the\nHolmwood-1 exploration well. The application is supported by a full\nEnvironmental Impact Assessment and Environmental Statement, which have taken\nover six months to complete. To ensure minimal impact, the drilling location is\nin isolated Forestry Commission land and the subsurface target, some 1,200\nmetres to the south, will be reached by directional drilling.\n\nUK onshore - PEDL150 (East Midlands Oil & Gas Province)\n\nEuropa and partners Valhalla Oil & Gas are anticipating commencing the PEDL150\n2D seismic acquisition programme on the 19th March. Surveying of the lines is\nnow well advanced, with a total of approximately 50km of new data planned.\nThere are currently 3 exploration leads over the licence and the new seismic\nhas been designed to identify a 2007 drilling location on one or more of these\nleads.\n\nRomania onshore - EPI-3 (Costisa test - Carpathian Oil & Gas Province)\n\nFollowing a review of the proposed Costisa-1 re-entry, the decision has been\ntaken to drill a new vertical well, Costisa-2, located 190 metres NNE of the\noriginal well. Drilling a new vertical borehole is anticipated to be the same\norder of cost as the proposed Costisa-1 re-entry and is seen as a lower risk\nalternative. Europa is now in the process of permitting the wellsite and it is\nexpected Costisa-2 will spud in mid May, depending on the progress of the\npermitting.\n\nRomania onshore - EIII-1 (East Radauti and Arbore Prospects - Carpathian Oil &\nGas Province)\n\nThe anticipated spud date of the East Radauti-1 well is in mid-April, followed\nby the Arbore-1 well in mid-May. These wells, which will target `Bilca-style'\ngas prospects, will each take one month to drill and complete. Work continues\non identifying a possible drilling location on the large Voitinel prospect for\nlater in 200...