Business
Renewal of Tarbes Val d’Adour Permit, France
Renewal of Tarbes Val d’Adour Permit, 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\n24 February 2014\n\n Europa Oil & Gas (Holdings) plc (`Europa' or `the Company') \n\n Renewal of Tarbes Val d'Adour Permit, Onshore France \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 Tarbes Val d'Adour permit (`Tarbes' or `the\nPermit'), in the proven Aquitaine Basin, onshore France.\n\nThe Permit has been extended until 18 January 2015. Tarbes Val d'Adour contains\nseveral oil accumulations that were previously licensed by Elf but were\nabandoned in 1985 due to a combination of technical issues and low oil prices.\nTwo fields, Jacque and Osmets, were drilled using vertical wells which\ngenerated modest production levels.\n\nHugh Mackay, CEO of Europa, said, \"Thanks to previous operators recovering\nmodest quantities of oil from two fields on the Permit, Tarbes is an appraisal\nrather than an exploration project. While not on the same scale as our\npotential company-making Bearn des Gaves permit onshore France and our two\nKosmos Energy operated licences offshore Ireland, Tarbes offers a relatively\nlow cost business development opportunity. In tandem with our on-going farm-out\ndiscussions for the Bearn des Gaves permit, we will now look to secure a\npartner with whom we can look to advance Tarbes in the limited time available.\n\n\"Elsewhere in our portfolio, we remain on course to drill two wells onshore UK\nin 2014, starting with the Wressle prospect in the first half of the year and\nKiln Lane in the second, each with a one in three chance of success. Offshore\nIreland, we expect to complete the interpretation of the 3D seismic survey\nacquired in Q3 2013 by the end of June 2014, at which time decisions will be\nmade in respect of drilling the Kiernan and Mullen prospects. This is an\nexciting period for the Company and I look forward to providing further updates\non our progress in due course.\"\n\n * * ENDS * * \n\nFor further information please visit www.europaoil.com or contact:\n\nHugh Mackay Europa +44 (0) 20 7224 3770 \n \nPhil Greenhalgh Europa +44 (0) 20 7224 3770 \n \nMatt Goode finnCap Ltd +44 (0) 20 7220 0500 \n \nHenrik Persson finnCap Ltd +44 (0) 20 7220 0500 \n \nFran...