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Renewal of Béarn des Gaves Permit, Onshore France
Renewal of Béarn des Gaves Permit, Onshore France.
About this update from Europa Oil & Gas (holdings) Plc
[{"type":"text","content":"\n \n Europa Oil & Gas (Holdings) plc / Index: AIM / Epic: EOG / Sector: Oil & Gas \n\n3 October 2013\n\n Europa Oil & Gas (Holdings) plc (`Europa' or `the Company') \n Renewal of Béarn des Gaves Permit, Onshore France and \n Technical Update Including Un-risked Indicative Resources for Berenx Shallow \n\nEuropa Oil & Gas (Holdings) plc, the AIM listed oil and gas exploration,\ndevelopment and production company focused on Europe, is pleased to announce\nthe renewal of its 100% owned Béarn des Gaves permit (`Béarn des Gaves' or `the\nPermit'), in the proven Aquitaine Basin, onshore France. The Permit includes\nBerenx Deep, the large gas appraisal prospect, and the recently identified\nBerenx Shallow prospect. The permit is located 20km to the southeast of the\nproducing 9 trillion cubic feet (`tcf') Lacq gas field.\n\nHighlights\n\n * Béarn des Gaves permit successfully renewed for a period of five years\n until 23 March 2017 with farm-out process to recommence immediately\n \n * Significant upgrade in gross mean un-risked resources for Berenx Shallow\n prospect to 416bcf following a detailed mapping exercise\n \n * Permit located in a proven hydrocarbon region in onshore France:\n \n * \n + adjacent to two giant producing gas fields, Lacq (9 tcf) and Meillon (2\n tcf)\n \n + two wells previously drilled on the Permit at Berenx Deep which ERC\n Equipoise has assigned a gross mean contingent resource of 277bcf -\n both wells encountered strong gas shows and one flowed gas to surface\n \n * Reservoir at Berenx Shallow is early Cretaceous and Late Jurassic\n limestones and dolomites characterised by dual matrix and fracture porosity\n \n * Next steps are to confirm well location, commence well permitting process,\n commence drilling planning - objective to drill a well to test Berenx\n Shallow in 2014\n \nHugh Mackay, CEO of Europa, commented, \"We are delighted with the renewal of\nBéarn des Gaves, particularly as over the last twelve months we have undertaken\na thorough re-evaluation of the shallow structures, reservoir distribution and\nhistoric well results which has significantly increased our understanding of\nthe prospectivity in the Permit. The resulting definition of gross mean\nun-risked resources of 416bcf for Berenx Shallow, and the already discovered\nBerenx Deep appraisal project with an estimate...