Europa Oil & Gas (Holdings) plc
(the `Company' or `Europa')
Crosby Warren Drilling Plans
The Directors of Europa Oil & Gas (Holdings) plc, the production and
exploration company, are pleased to announce that a planning application is now
under consideration by North Lincolnshire County Council to drill a new
production well at the Crosby Warren Field.
Europa has submitted a planning application to sidetrack the CW-2 well,
currently shut-in, in order to drill a new production well to a total depth of
approximately 1,700 metres. The Directors are hopeful of a mid-June spud for
this well, subject to planning approval and the availability of underbalanced
drilling equipment.
In advance of this drilling, Europa plans a workover of the existing production
well, CW-1, including installing new artificial lift equipment and utilising
gas lift to increase overall production rates.
Paul Barrett, Managing director, said "This structured programme is intended to
significantly increase production levels at Crosby Warren for the second half
of 2007 onwards".
Background to the Crosby Warren Project
The Crosby Warren Oilfield, situated near Scunthorpe in the East Midlands Oil
Province, was producing an average of 35 boepd for the six months prior to the
acquisition date in 2006. On acquisition, Europa instigated a production
optimisation programme, the first phase of which has resulted in production
levels at an average 70 boepd for the six months following acquisition. An
evaluation of the field indicates potential to increase production further from
optimising the current producer and, more significantly, from drilling a new
production well.
Details of the application, which has now passed the consultation period
without attracting any objections, can be found on the Council's website(1)
under the reference number PA/2007/0560. The target date for a decision is the
24th May 2007.
1. http://www.northlincs.gov.uk/NorthLincs/Environment/planning/
planappsassoc.htm
About Europa Oil & Gas (Holdings) plc
Europa Oil & Gas (Holdings) plc focuses on the production and exploration of
hydrocarbons in Europe and North Africa. Europa currently produces 600 barrels
of oil equivalent per day from its operations in the UK, Romania and the
Ukraine. Operating a balanced portfolio, Europa also has field appraisal and
exploration activity on a number of projects in the UK and Romania and a strong
new ventures programme across Europe and the North African region.
For more information please visit www.europaoil.com
For further information, contact:
Paul Barrett, Managing Director, Europa Oil & Gas +33 5 63 33 18 97
Jonathan Wright or Parimal Kumar, Seymour Pierce +44 20 7107 8000