Business
Oil Storage Consent Granted for Wressle Oil Field
Oil Storage Consent Granted for Wressle Oil Field.
About this update from Europa Oil & Gas (holdings) Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 7915Z\n Europa Oil & Gas (Holdings) PLC\n 26 May 2021\n \n \n \n \n Europa Oil & Gas (Holdings) plc / Index: AIM / Epic: EOG / Sector: Oil & Gas\n 26 May 2021\n Europa Oil & Gas (Holdings) plc ('Europa' or 'the Company')\n Oil Storage Consent Granted for Wressle Oil Field\n \n \n \n \n Europa Oil & Gas (Holdings) plc, the UK\n , \n Ireland\n and Morocco\n focused oil and gas exploration, development and production company, \n is pleased toannounce that\n \n \n \n it has been advised by\n the operator\n that \n consent \n has been received\n from North Lincolnshire Council for the storage of crude oil under the Planning (Hazardous Substances) Regulations 1992 at \n the\n Wressle Oil Field Development (\n '\n Wressle\n '\n )\n . \n \n \n \n \n \n The grant of consent \n allows full use of the installed oil storage capacity at the site of approximately 2000 barrels and will enable full production\n from t\n he conventional Wressle-1 \n well\n \n to be realised \n once the upcoming\n proppant squeeze\n has been completed.\n \n The proppant squeeze, for which all necessary consents have been received (see announcement of 18 May 2021),\n is expected to increase overall production to 500 barrels of oil per day (150 barrels net to E\n uropa\n ). \n \n \n \n \n \n Wressle \n is located on licences PEDL180 and PEDL182 ('the Licences'\n )\n \n in North Lincolnshire\n . Europa holds a 30% working interest in the Licences, alongside Egdon Resources \n U.K. Limited \n (30% and operator), and Union Jack Oil (40%). \n \n \n \n \n \n \n Simon Oddie, CEO of Europa, said: \n \n \"\n The receipt of the final consent is very positive news and will enable the proppant squeeze in June to maximise production rates at Wressle.\" \n \n \n \n \n \n Further information on Wressle\n \n \n The Wressle-1 well was drilled in 2014 and tested in 2015. \n During testing, a total of 710 barrels of oil equivalent per day were recovered from three separate reservoirs: the Ashover Grit; the Wingfield Flags; and the Penistone Flags. In September 2016, a Competent Person's Report ('CPR') provided independent estimates of reserves and contingent and prospective oil and gas resources forWressleof 2.15 million stock ta...