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Two large prospects identified on Irish Atlanti...
Two large prospects identified on Irish Atlanti....
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\n19 September 2012\n\n Europa Oil & Gas (Holdings) plc (`Europa' or `the Company') \n\n Two large prospects identified on Irish Atlantic Margin Licensing Options \n\nEuropa Oil & Gas (Holdings) plc, the AIM listed oil and gas exploration,\ndevelopment and production company focussed on Europe, is pleased to provide a\ntechnical update on its 100% owned Licensing Options (`LO'), LO 11/07 and LO 11\n/08, located in the highly prospective South Porcupine Basin, in the Irish\nAtlantic Margin, covering a total area of approximately 2,000 sq km. This\nupdate includes details of two large, previously unknown prospects identified\non Europa's acreage.\n\nOverview:\n\n * Two sizeable prospects, Mullen in LO 11/07 and Kiernan in LO 11/08,\n identified in the lower Cretaceous clastic play of the Irish Atlantic\n Margin - a play proven by the Burren oil discovery\n \n * Seismic mapping shows potential for large stratigraphic closures of up to\n 120 sq km in size in the case of Mullen and 244 sq km in the case of\n Kiernan\n \n * Both prospects supported by amplitude anomalies identified on 2-D seismic\n data\n \n * Detailed mapping shows the development of a possible mechanism for trapping\n hydrocarbons\n \n * Studies indicate potential for an additional lower Cretaceous source rock\n as well as the proven Jurassic source rock\n \n * Reprocessing of key seismic lines over both prospects is in progress and\n will be followed by a rock physics and 2-D inversion study to calibrate the\n seismic response\n \n * Discussions with potential joint venture partners for both licences are\n on-going\n \nEuropa's CEO, Hugh Mackay commented, \"Having identified two large structures in\nthe Irish Atlantic Margin, our initial technical work and prospect mapping\nexercise has exceeded our expectations. Combined with the presence of a\nfunctioning hydrocarbon system, as indicated by the Burren oil discovery, the\nsize of these structures is tremendously exciting and warrants further priority\ninvestigation. We have embarked on a work programme that will provide\nvolumetric estimates in due course and further mature the technical case of\nthese prospects. We look forward to presenting the prospects at the Ireland\nAtlantic 2012 Conference in Dublin on 12 No...