Business
Hykeham-1 to be completed
Hykeham-1 to be completed.
About this update from Europa Oil & Gas (holdings) Plc
[{"type":"text","content":"\n \nHykeham-1 to be completed\n\nThe Directors of Europa Oil & Gas (Holdings) plc are pleased to announce that\nthe Hykeham-1 exploration well has reached a final total depth of 1,110m in a\nsidetracked wellbore, having encountered encouraging oil shows from 18m gross\nthickness of Basal Sandstone reservoir. The well is located in the PEDL150\nlicence, southwest of Lincoln, where Europa holds a 75% working interest.\n\nLive oil was encountered at the shakers during drilling and on the drillstring\nduring preparations for logging. Wireline log analysis indicates that\napproximately 4m net thickness of Basal Sandstone is oil-bearing and the well\nwill be completed in preparation for production testing. The Basal Sandstone\nunit calculating as oil pay is directly analogous to the producing interval in\nthe nearby Whisby Field, which has produced some 700,000 barrels of oil to\ndate.\n\nThe forward programme is to run and cement casing, then demobilise the drilling\nunit. Following installation of temporary production equipment, the zone will\nbe perforated and an extended well test performed. This is expected to commence\nin January.\n\nPaul Barrett, Managing Director of Europa, said `This is certainly exciting\nnews and we look forward to testing this zone that will hopefully contribute\nstrongly to reaching our near-term production level target of 500bopd.'\n\nFor further information, please contact:\n\nPaul Barrett Europa Oil & Gas +44 1235 553 266\n\nJonathan Wright Seymour Pierce +44 20 7107 8000\n\nThe technical information and opinions contained in this announcement have been\nreviewed by Dr. Erika Syba, Europa's Operations Director, who has 25 years of\nexperience in the oil exploration and production industry. She has consented to\nthe inclusion herein of such technical information and opinions.\n ","length":1821,"tagName":"div"}]