Business
Operational update
Operational update.
About this update from Europa Oil & Gas (holdings) Plc
[{"type":"text","content":"\n \n EUROPA OIL & GAS HOLDINGS PLC \n\n OPERATIONAL UPDATE \n\nThe Directors of Europa Oil & Gas (Holdings) plc (\"Europa\") are pleased to\nprovide an operational update on a number of projects in three of its areas of\nactivity - Romania, UK and Western Sahara.\n\nRomania\n\nSeismic Acquisition Programmes\n\nSeismic acquisition in the Bacau Concession (EIII-4) commenced on 27 March. The\nprogramme is designed to mature two leads identified on an earlier survey for\ndrilling in late 2006 or early 2007. The survey crew will move onto a similar\nsurvey on the Cuejdui Concession (EIII-3) later in April and then on to acquire\na major survey south of Europa's Bilca-Fratauti development in the Brodina\nConcession (EIII-1).\n\nField Development\n\nWork progresses on the Bilca-Fratauti Development. The Operator, Aurelian Oil &\nGas, has informed the group that the current estimate for production start-up\nis late July 2006. This development will significantly increase Europa's\nproduction levels during the second part of 2006.\n\nAppraisal Drilling\n\nEuropa and its Czech co-venturer, MND, are in the advanced stages of\nnegotiating the terms of an extension to the Brates Concession (EPI-3) of up to\nthree years. The work programme will provide for the appraisal of the\nBurdigalian gas sands encountered in the Costisa-1 well and further evaluation\nof exploration potential of the remainder of the concession area.\n\nUK\n\nNorth Sea\n\nEuropa has begun, with the services of Aberdeen-based Peak Group, to plan the\ndrilling of 41/24-D, a gas condensate appraisal well anticipated to be drilled\nin mid-2007. Peak brings a highly competent engineering team to the project.\nEuropa is planning to utilise underbalanced drilling technology to drill a 500m\nreservoir section which will be tested and potentially retained as a future\nproducer.\n\nOnshore\n\nThe seismic reprocessing on PEDL150, the exploration acreage surrounding the\nWhisby Field, Lincolnshire, is almost complete. The results to date show a\ndramatic improvement in data quality and prospectivity. Under the terms of the\nfarm-out with Valhalla Oil & Gas, prospect-specific seismic acquisition will be\nundertaken if necessary prior to selecting a drilling location.\n\nPlanning work continues on the Holmwood prospect in PEDL143, Surrey. Europa is\ntaking a deliberatel...