Europa Oil & Gas announced Tuesday that it has started the acquisition of 2D seismic data on its onshore PEDL 181 license in east Lincolnshire, UK.
According to the company, PEDL 181 is located in a working hydrocarbon system where a number of discoveries have been made.
Europa said that it will focus on four leads in the southern part of the license, where several prospects have been confirmed following technical evaluation. Three leads lie within the northeast trending Caistor anticline, while another – named Cuxwold – is located south of the anticline.
Europa's existing oil production at the Crosby Warren field lies at the westernmost end of the Brigg-Broughton anticline – which is an analogous trend to the west of the Caistor anticline.
The company has now begun the acquisition of approximately 50 miles of 2D seismic, as well as the reprocessing of existing 3D seismic over the Caistor anticline.
Europa CEO Hugh Mackay commented in a statement:
"The identification of four leads on PEDL 181, which is located next to the PEDL 180 & 182 licences, where we are due to drill an exploration well this year, and our producing oil field at Crosby Warren, is highly encouraging. As previously identified targets are drilled, it is important we maintain a pipeline of leads and prospects at various stages of development.
"Our strategy of developing a diversified asset base comprised of multiple licenses including UK production and exploration, a gas appraisal project onshore France, and high impact frontier exploration in the Irish Atlantic Margin where we recently identified two large prospects, provides a portfolio for future drilling. The results of the 2D seismic acquisition
Europa has a 50-percent interest in the PEDL 181 license and is the operator. Egdon Resources UK and Celtique Energie Petroleum each hold a 25-percent stake.
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