Business
New Licence Award
New Licence Award.
About this update from Europa Oil & Gas (holdings) Plc
[{"type":"text","content":"\n \n Europa Oil & Gas (Holdings) plc \n\n UK 13th Round Award \n\nThe Directors of Europa Oil & Gas (Holdings) plc are pleased to announce the\naward of a six year exploration licence in the UK onshore 13th Round, covering\na large area in North Lincolnshire. The licence will be operated by Europa,\nwith a 50% working interest, the remainder being held by Valhalla Oil & Gas\nLimited.\n\nThe award lies in the Humber Basin which contains significant oil and gas\nfields, such as Europa's Crosby Warren Oilfield and the large (90 billion cubic\nfeet) Saltfleetby Gasfield. However, historical exploration drilling density in\nthe Basin is remarkably low, with only one well drilled in the awarded licence\narea to date.\n\nThe award covers an area of approximately 600km2 (equivalent to 3 UK North Sea\nblocks) and contains 9 currently identified leads and prospects with a combined\nmid-range prospective resource of 50 million barrels recoverable.\n\nPaul Barrett, Managing Director of Europa, said `This is a significant addition\nto our existing high quality exploration portfolio, representing a large\nholding in a proven, yet almost unexplored, petroliferous basin. I am\nespecially delighted as this was a rare opportunity to acquire such a large\nunderexplored prospective area in the UK and the award perfectly complements\nour existing East Midlands portfolio of mainly producing assets.'\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 ","length":1676,"tagName":"div"}]