Planning Permission
The Directors of Europa Oil & Gas (Holdings) plc are pleased to announce that
Lincolnshire County Council has granted planning permission to drill an
exploration well at West Whisby on the PEDL150 licence, near Lincoln.
The West Whisby Prospect is targeting the two Carboniferous sandstone
reservoirs which are oil-bearing in the Whisby Field, only 2km to the east.
Underlying these reservoirs is a feature interpreted as a possible fringing
reef providing significant upside to the prospect.
Currently, Europa has secured planning permission for three wells across its
East Midlands portfolio in Lincolnshire: Hykeham-1, West Firsby-9 and West
Whisby-1. The timing of the drilling programme for these wells is subject to
finance, though currently scheduled to begin in the 3rd Qtr 2009 with the
completion of the low risk Hykeham-1 well.
Paul Barrett, Managing Director, said `Europa's strategy in the East Midlands
is to optimise its producing assets in tandem with increasing reserves. Europa
currently produces over 200 barrels of oil per day and the forward programme of
drilling in the established Carboniferous structural play offers both a
low-risk approach to reserves growth and the opportunity to significantly
increase daily production through 2009'.
For further information, please contact;
Paul Barrett Europa Oil & Gas (Holdings) plc 01235 553 266
Jonathan Wright Seymour Pierce 0207 107 8050
www.europaoil.com