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Shareholder Newsletter & LO 16/20 Inishkea ...
Shareholder Newsletter & LO 16/20 Inishkea ....
About this update from Europa Oil & Gas (holdings) Plc
[{"type":"text","content":"\n \nEuropa Oil & Gas plc / Index: AIM / Epic: EOG / Sector: Oil & Gas\n\n14 March 2018\n\nEuropa Oil & Gas (Holdings) plc (‘Europa' or ‘the Company')\n\nShareholder Newsletter and LO 16/20 Inishkea technical update\n\nEuropa Oil & Gas (Holdings) PLC is pleased to provide its investors with the following update on its portfolio of multistage licences offshore Ireland, including Licensing Option (‘LO’) 16/20 near the Corrib gas field in the Slyne Basin, where management has elected to fast track an ongoing technical work programme following positive results. This update is available on Europa's website www.europaoil.com. To view the press release with the illustrative maps and diagrams please use the following link: http://content.prnewswire.com/documents/PRNUK-1303181723-5EA0_EOG_RNS_Investor_Newsletter_13.03.18_FINAL_clean_(with_images)_CC.pdf\n\nDear Investor,\n\nEuropa has an industry-leading and highly diversified portfolio of prospects across seven licences and licensing options (‘LO’), three basins and six play types in Atlantic Ireland. Among these, we have been sufficiently encouraged by recent technical work to consider the Inishkea prospects in LO 16/20 in the Slyne basin and near the Corrib gas field our flagship project in Ireland. We are now seeking to fast track technical work on LO16/20 Inishkea with the intention of delivering a new prospect inventory in H1 2019 and, subject to meeting technical and commercial criteria, identifying a firm drilling target for an exploration well in 2020.\n\nTo view image, see PDF.\n\nAll of the prospects we have identified in Ireland are potential company makers http://bit.ly/2FiyCGX. We are choosing to push the prospects in LO 16/20 harder however for the following reasons:\n\n\n\nThe Triassic Gas hydrocarbon play is well understood and proven to work both technically and commercially in the Slyne basin by the Corrib gas field. Therefore, play risk is lower than in other Atlantic Ireland basins where play risk remains to be conclusively proven by a commercially successful exploration discovery.\n\n\n\nWe believe 2.5 tcf of undiscovered Gas Initially In Place (GIIP) is likely to translate into commercially significant prospective resources.We understand that the recovery factor at the Corrib field is ~ 80%.\n\n\n\nWate...