Business
Romanian Operations Timing
Romanian Operations Timing.
About this update from Europa Oil & Gas (holdings) Plc
[{"type":"text","content":"\n \nEuropa Oil & Gas (Holdings) plc\n\nUpdate on Romanian Operational Timings\n\nThe Directors of Europa Oil & Gas (Holdings) plc (Europa) are pleased to\nprovide an update on planned operations in Romania for the coming 6 months.\n\nEuropa has received both drilling approval and an extension to the licence from\nthe Romanian authorities in order to undertake the deepening of the Barchiz-1\nexploration well, situated in the EPI-3 Brates Concession (Europa 100%). The\ndeepening of the well is planned to test the exploration target thought to lie\nbeneath the current 1,450m depth of the well.\n\nAurelian Oil & Gas, the Operator of the Brodina Concession (Europa 28.75%) in\nnorthern Romania, has advised partners that the Voitinel gas discovery\nappraisal well is due to spud on or around 1st October 2011. Subject to the\nresults of this well, a further well is anticipated to be drilled to test the\nupside to the play in early 2012.\n\nThe 2011 seismic programme in Romania is underway, with the EIII-3 Cuejdiu area\n(Europa 17.5%) acquisition over 70% complete. The EIII-1 Brodina programme will\nfollow on from this survey. Both of these seismic programmes are concentrating\non the underexplored thrustbelt oil play.\n\nPaul Barrett, Managing Director, said `these Romanian projects are coming\ntogether to create a significant amount of activity for the remainder of 2011\nand we hope to exit the year with greater reserves and contingent resources.'\n\nFor more information, contact:\n\nEuropa\n\nPaul Barrett +44 7971 528754\n\nPhil Greenhalgh +44 1235 467362\n\nfinnCap +44 207 600 1658\n\nSarah Wharry / Henrik Persson, Corporate Finance\n\nJoanna Weaving, Corporate Broking\n ","length":1678,"tagName":"div"}]