East Irish Sea Award
The Directors of Europa Oil & Gas (Holdings) plc, the AIM-listed production and
exploration company (AIM: EOG), are pleased to announce the award of two blocks
in the East Irish Sea in the UK 24th Round to a Europa-led consortium. Europa
is to operate the blocks under a Promote licence with a 50% interest, the
remainder held by UKCS new entrant Magrathean Limited.
Blocks 109/5 and 112/30 are situated some 25km west of the Morecambe Gasfield
complex, which held initial reserves of over 6 tcf (1 billion boe). The blocks
contain a large undrilled structure, the Ellen Vannin Prospect, covering 75 km2
at intra-Carboniferous levels and supported by potential gas indicators on
seismic data. Most-likely Prospective Resources are in excess of 1.5 tcf (340
mmbo in the oil case).
Paul Barrett, Managing Director, said "We are very pleased to acquire this
licence. Our approach to the 24th Round was very focused on this clearly
defined prospect and Ellen Vannin is a significant addition to the potential
high-reward end of our already extensive exploration and production portfolio."
Reviewed by a Qualified Person
The technical information and opinions contained in this announcement have been
reviewed by Paul Barrett, Managing Director of Europa Oil & Gas, who is a
geologist with 26 years of relevant experience in the upstream oil and gas
industry.
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