Business
UKCS Licence Award
UKCS Licence Award.
About this update from Europa Oil & Gas (holdings) Plc
[{"type":"text","content":"\n \nEast Irish Sea Award\n\nThe Directors of Europa Oil & Gas (Holdings) plc, the AIM-listed production and\nexploration company (AIM: EOG), are pleased to announce the award of two blocks\nin the East Irish Sea in the UK 24th Round to a Europa-led consortium. Europa\nis to operate the blocks under a Promote licence with a 50% interest, the\nremainder held by UKCS new entrant Magrathean Limited.\n\nBlocks 109/5 and 112/30 are situated some 25km west of the Morecambe Gasfield\ncomplex, which held initial reserves of over 6 tcf (1 billion boe). The blocks\ncontain a large undrilled structure, the Ellen Vannin Prospect, covering 75 km2\nat intra-Carboniferous levels and supported by potential gas indicators on\nseismic data. Most-likely Prospective Resources are in excess of 1.5 tcf (340\nmmbo in the oil case).\n\nPaul Barrett, Managing Director, said \"We are very pleased to acquire this\nlicence. Our approach to the 24th Round was very focused on this clearly\ndefined prospect and Ellen Vannin is a significant addition to the potential\nhigh-reward end of our already extensive exploration and production portfolio.\"\n\nReviewed by a Qualified Person\n\nThe technical information and opinions contained in this announcement have been\nreviewed by Paul Barrett, Managing Director of Europa Oil & Gas, who is a\ngeologist with 26 years of relevant experience in the upstream oil and gas\nindustry.\n\nEuropa Oil & Gas (Holdings) plc\n\nEuropa Oil & Gas (Holdings) plc focuses on the production and exploration of\nhydrocarbons in Europe and North Africa. Europa currently produces 600 barrels\nof oil equivalent per day from its operations in the UK, Romania and the\nUkraine. Operating a balanced portfolio, Europa also has field appraisal and\nexploration activity on a number of projects in the UK and Romania and a strong\nnew ventures programme across Europe and the North African region.\n\nFor more information please visit www.europaoil.com\n\nFor further information, contact:\n\nPaul Barrett, Managing Director, Europa Oil & Gas +33 5 63 33 18 97\n\nJonathan Wright or Parimal Kumar, Seymour Pierce +44 20 7107 8000\n ","length":2130,"tagName":"div"}]