Business
Update on New Offshore Ireland Licensing Options
Update on New Offshore Ireland Licensing Options.
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\n8 June 2016\n\nEuropa Oil & Gas (Holdings) plc (‘Europa’ or ‘the Company’)\n\nUpdate on New Offshore Ireland Licensing Options\n\nEuropa Oil & Gas (Holdings) plc, the AIM listed oil and gas exploration, development and production company focused on Europe, is pleased to confirm that it has formally accepted the award of four new Licensing Options (‘LOs’) as part of phase two of the 2015 Atlantic Ireland licensing round. This follows the announcements on 3 June 2015 by the Company and by Seán Kyne T.D., Minister of State for Natural Resources at the Department of Communications, Energy and Natural Resources (‘DCENR’).\n\nFurther information regarding the new licences is tabulated below and a map showing their location can be found on Europa’s website at: http://www.europaoil.com/documents/160607EuropaIrishLicences.pdf.\n\n\n\nLicence\nEuropa \narea km2\nBasin\nTerm\n\n\n\nLO 16/19\n100% operator\n976\nSouth Porcupine\n 2 yr\n\n\n\nLO 16/20\n100% operator\n945\nSlyne Basin\n3 yr\n\n\n\nLO 16/21\n100% operator\n832\nSlyne Basin\n3 yr\n\n\n\nLO 16/22\n100% operator\n992\nPadraig\n3 yr\n\n\n\n\n\n3745\n\n\n\n\n\nEuropa is pleased to provide the following summary information regarding the new licenses awarded in phase two:\n\nLO 16/19\n\nLO 16/19 is in the South Porcupine basin and lies immediately to the east of, and shares a common boundary with, FEL 2/13 in which Europa also has a 100% interest and is operator (subject to approval). LO 16/19 contains the Cretaceous fan play and has the potential for 300 – 1,000 million barrels of oil equivalent (‘boe’) gross mean un-risked indicative resources. Turbidite channels have been clearly mapped on Europa’s 3D seismic on the adjacent FEL 2/13 and the Company considers it highly likely that these channels are directly feeding submarine fans developed in LO 16/19.\n\nLO 16/20\n\nLO 16/20 is exploration immediately adjacent to, and northwest of, the Corrib gas field in the Slyne Basin. Corrib came onto production in December 2015. LO 16/20 contains the Triassic gas play and Europa has identified gross mean un-risked prospective resources of 1 TCF in a Triassic horst block some 16 km northwes...