Business
Spud of Romanian Exploration Well
Spud of Romanian Exploration Well.
About this update from Europa Oil & Gas (holdings) Plc
[{"type":"text","content":"\n \n18 October 2010\n\nROMANIAN EXPLORATION WELL SPUD\n\nThe Directors of Europa Oil & Gas (Holdings) plc are pleased to announce the\nspud of the Barchiz-1 exploration well in Romania. The Barchiz-1 well, situated\nin the EPI-3 Brates Concession (Europa 20%), is scheduled to take approximately\n30 days to drill to an estimated final total depth of 1,400 metres.\n\nThe Barchiz Prospect is 10km from, and on trend with, the Geamana Oilfield\n(50mmbo reserves). The pre-drill oil-in-place estimate for Barchiz is up to\n94mmbo and there are five additional leads on-block in the same structural play\nwhich will be significantly upgraded by success at Barchiz. Additionally, leads\nin the same play have been identified on new seismic data in the Cuejdiu block,\nimmediately to the north of Brates.\n\nIt is likely that additional seismic will be acquired in the Brates block in\n2011 over the Tazlaul Mare Deep feature, a large thrust structure beneath the\nTazlaul Mare Gas Condensate Field, to mature this prospect for drilling.\nPre-drill oil-in-place estimates here range up to 225mmbo.\n\nPaul Barrett, Managing Director of Europa, said \"Barchiz is Europa's first well\nin the prolific Carpathian thrustbelt oil play and along with the additional\nleads and prospects identified in the Brates and Cuejdiu blocks, provides a\nstrong conveyor belt of exciting exploration potential going forward.\"\n\nFurther information:\n\nEuropa Oil & Gas\n\nPhilip Greenhalgh / Paul Barrett Tel: +44 1235 553 266\n\nfinnCap\n\nSarah Wharry / Henrik Persson, Corporate Finance Tel: +44 207 600 1658\nJoanna Weaving, Corporate Broking Tel: +44 207 600 1658\n\nThe contents of this news release have been reviewed and approved by Paul\nBarrett, MSc., a geologist with over 30 years oil and gas experience.\n ","length":1779,"tagName":"div"}]