Europa Oil & Gas (Holdings) plc
RNS
15-04-10
Voitinel-1 Test Update
The Directors of Europa Oil & Gas (Holdings) plc are pleased to provide an
update on the timing of operations on the Voitinel-1 well, northern Romania.
The Operator, Aurelian Oil & Gas, has advised the joint venture partners that
Schlumberger have been contracted to undertake a proppant frac stimulation of
the `1650 sand', an interval that flowed dry gas at rates of up to 3 mmscfpd
un-stimulated on the initial test. The programme is anticipated to take place
during May. Following the frac treatment and a short flow test, the well will
be shut-in for pressure build-up for 14 days, after which the additional
potential in the `1400 sand' will be tested.
Current estimates for gas-in-place for the Voitinel play on-block are up to
400bcf. Europa's working interest is 28.75%, equivalent to approximately 15mmbo
recoverable net to Europa.
Paul Barrett, Managing Director, said `We are looking forward to the results of
the stimulation programme, which will provide us with valuable information on
this significant gas discovery. It will give us better confidence in
gas-in-place numbers and in our development planning for the field.'
The technical opinions in this announcement have been reviewed and approved by
Dr. Erika Syba and Paul Barrett, both experienced geologists with over 50 years
combined oil and gas experience.
For further information, please contact:
Paul Barrett Europa +44 7971 528 754
Toby Gibbs Astaire Securities +44 7448 4419