Business
Unconventional Resource Licence Award
Unconventional Resource Licence Award.
About this update from Europa Oil & Gas (holdings) Plc
[{"type":"text","content":"\n \nEuropa Oil & Gas (Holdings) plc\n\nUnconventional Resources Licence Awards\n\nThe Directors of Europa Oil & Gas (Holdings) plc are pleased to announce the\naward to Europa by the Coal Authority of two licences for underground coal\ngasification off the east coast of England. These areas are adjacent to\nEuropa's existing East Midlands licences.\n\nUnderground Coal Gasification (UCG) is a developing technology that recovers up\nto 80% of the calorific value of in situ coal by a process of controlled\ncombustion. UCG, when combined with CO2 storage in the depleted coal seams,\ncreates a source of energy which rivals nuclear for low emissions and has lower\nunit costs than conventional gas-fired power stations*.\n\nWith only 30% utilisation rate for the coals, the estimated potential UCG\nenergy resource in these two licence areas is 36EJ or 6 billion barrels of oil\nequivalent.\n\nPaul Barrett, Managing Director, said `Whilst UCG is in its infancy in Europe,\nit has great potential to extract energy cleanly from vast resources of virgin\ncoal still present in parts of the UK. Europa's existing business position in\nthe East Midlands is a perfect platform to pilot these technologies, whilst the\nproximity of the licences to refinery, gas and energy infrastructure is a key\nto future commercialisation of this resource.'\n\nFor further information, contact:\n\nEuropa Oil & Gas Paul Barrett +44 1235 467 360\nAstaire Securities Shane Gallwey/Toby Gibbs +44 20 7492 4750\nAstaire Securities Charles Vaughan +44 20 7492 4763\n\nThe contents of this news release have been reviewed and approved by Paul\nBarrett, MSc., a geologist with over 30 years oil, gas and coal experience.\n\nNotes to Editors\n\nLicence Details\n\nConditional UCG Licences with an initial 3 year term.\n\nHumber South 100km2 situated along the coast next to the Mablethorpe Gas\nTerminal\nOffshore Holderness 100km2 situated along the coast next to the Aldborough Gas\nStorage Facility and north of the Easington Gas Terminal\n\nBoth licences held 90% Europa Oil & Gas (Resources) Limited and 10% Oxford Coal\nConsulting Limited\n\nReference\n\n* Kempka T. et al, 2009, Economic viability of in-situ coal gasification with\ndownstream CO2 storage.\n\nUseful Links\n\nwww.ugpc.com Underground Coal Gasification Partnership (UK)\nwww.lincenergy.com.au Linc Energy...