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Update on EWT on Wressle Discovery (Replacement)
Update on EWT on Wressle Discovery (Replacement).
About this update from Europa Oil & Gas (holdings) Plc
[{"type":"text","content":"\n \nEuropa Oil & Gas (Holdings) plc / Index: AIM / Epic: EOG / Sector: Oil & Gas\n\n4 September 2015\n\nEuropa Oil & Gas (Holdings) plc (‘Europa’ or ‘the Company’)\n\nUpdate on Extended Well Test on Wressle Discovery, Onshore UK (Replacement)\n\nThis release replaces the announcement which was released by the Company on 4 September 2015 at 7.00 am. The change relates to the Ashover Grit Section which incorrectly stated that during initial testing in early 2015, free flowing oil production rates equivalent to 80 bopd and 47 million cubic feet (‘mcf’) of gas per day were achieved during a 16 hour main flow period. The free flowing rates have been amended to the correct figure of 80 bopd and 47 thousand cubic feet (‘mcf’) of gas per day.\n\nAll other details in the announcement remain the same. The full amended text is shown below.\n\nEuropa Oil & Gas (Holdings) plc, the AIM quoted oil and gas company with producing and exploration assets in Europe, is pleased to note today’s update from Egdon Resources (‘Egdon’) regarding Extended Well Test (‘EWT’) operations on the Penistone Flags oil zone and the Ashover Grit intervals at the Wressle-1 oil and gas well (‘Wressle’ or ‘the Well’) on Licence PEDL180, which lies on structural trend with and 5 km from the Europa operated Crosby Warren field. Europa has a 33.3% working interest in PEDL180 in East Lincolnshire, alongside Egdon (operator, 25%), Celtique Energie Petroleum Ltd (33.3%), Union Jack Oil (8.3%).\n\nPenistone Flags oil zone (‘Zone 3A’)\n\nDuring the EWT, oil and gas flowed from Zone 3A with no evidence of water. Analysis of well test and log data indicates the elevation of the oil water contact for the Penistone Flags reservoir is deeper than previously considered, which potentially has positive implications for the quantity of oil and gas volumes contained in the interval. A further test is planned to establish the fluids in the lowermost part of the Penistone. This will provide a better understanding of the oil water contact, enable a more accurate quantification of hydrocarbon resource volumes, and also assist with the optimisation of future well placement for the development of the reservoir. Pumped test operations over the Penistone Flags oil zone carried out earlier in the ye...