Business
Hykeham-1 Spud
Hykeham-1 Spud.
About this update from Europa Oil & Gas (holdings) Plc
[{"type":"text","content":"\n \nOperational Update\n\nSpudding of Hykeham-1, UK East Midlands\n\nThe Directors of Europa Oil & Gas (Holdings) plc are pleased to announce that\ndrilling operations commenced on the Hykeham-1 exploration well on the 27th\nJanuary 2009. The top-hole section of the well, to approximately 100m, will be\ndrilled, cased and the well suspended for re-entry in mid-2009 to complete the\nmain section of the well.\n\nHykeham-1 is being drilled on a well-defined four-way dip-closed feature at the\nNamurian Basal Sandstone level, the main reservoir in the nearby Whisby\nOilfield. The Hykeham Prospect has a common spill-point with the Whisby\nOilfield, only 2.2km away and where Europa's 2003 Whisby-4 well, which came in\nat 500bopd, has produced almost 300,000 barrels of oil to date and continues to\nproduce in excess of 100bopd. In addition, a nearby well situated down-dip from\nthe Hykeham-1 location, Caledonian Farm-1, contained a live oil column in the\nBasal Sandstone sequence. Additional potential also exists in Hykeham-1 in\noverlying Westphalian sandstones, which are oil-bearing in Whisby-4. A\ngeochemical survey over this area highlighted a positive surface chemical\nanomaly at Hykeham.\n\nPaul Barrett, Managing Director of Europa, said `The Hykeham Prospect is low\nrisk, all the necessary elements of reservoir, structure, migration and seal\nbeing amply demonstrated in the seismic and well data. Europa produces over\n250bopd from its existing East Midlands assets and success later in 2009 would\nallow for immediate test production to augment this cashflow stream.'\n\nFor further information, please contact;\n\nPaul Barrett Europa Oil & Gas (Holdings) plc 01235 553 266\nJonathan Wright Seymour Pierce 0207 107 8050\n\nwww.europaoil.com\n\nNOTE\n\nHykeham-1 is situated in licence PEDL150. On completion of Hykeham-1, the\nequity interests in PEDL150 will be:\n\nEuropa 50% (Operator)\n\nValhalla Oil & Gas 50%\n\nREVIEW BY QUALIFIED PERSON\n\nThe technical information and opinions contained in this announcement have been\nreviewed by Dr. Erika Syba, Operations Director of Europa Oil & Gas, who is a\ngeologist with 19 years of relevant experience in the oil and gas industry.\n ","length":2189,"tagName":"div"}]