24 February 2010
Voitinel area potential resource upgraded to 400bcf
The Directors of Europa Oil & Gas (Holdings) plc are pleased to report that the
Aurelian Oil & Gas plc, Operator of the Brodina Block, northern Romania, have
today provided a market update on operations and resource potential for the
Voitinel trend.
Additional information provided by Romgaz on recent drilling results at Paltinu
confirms that the gas fairway tested in Voitinel-1 extends at least 20km along
trend to the southeast from the well and encompasses the undrilled Solca
structure. As a consequence of these drilling results, Aurelian has upgraded
the potential gas-in-place along the Voitinel-Solca trend from previous
estimates of 50-100bcf to 400bcf on-block.
In April, a fracture stimulation of the zone in Voitinel-1 that flowed 3mmscfpd
dry gas will be followed by the testing of a second zone. In parallel, Romgaz
will be testing the Paltinu-102 well. Further appraisal drilling on Voitinel is
anticipated later in 2010.
Paul Barrett, Managing Director of Europa, said "This upgrade reaffirms the
significant resource potential in the central part of the Brodina Block as
initially indicated by Voitinel-1. Further testing work in April will go a long
way to allowing these gas volumes to be booked as a significant Contingent
Resource in an EU jurisdiction close to infrastructure. Europa's 28.75% working
interest in Brodina therefore has the near-term potential to become an
extremely valuable asset for the Company."
Further information is included in Aurelian's RNS of today's date.
For further information, please contact:
Paul Barrett Europa Oil & Gas +44 1235 553 266
Jonathan Wright Seymour Pierce +44 20 7107 8000