Europa Oil & Gas: Wressle Discovery Could Be Larger Than Expected

Europa Oil & Gas announced Friday that the Penistone Flags oil zone at the Wressle-1 oil and gas well on license PEDL180 “could be larger than first envisaged”, following an extended well test of the region.

During the extended well test, oil and gas flowed from the Penistone Flags zone with no evidence of water. Analysis of well test and log data indicates that the elevation of the oil water contact for the Penistone Flags reservoir is deeper than previously considered, which potentially has positive implications for the quantity of oil and gas volumes contained in the interval, according to Europa. A further test is planned to establish the fluids in the lowermost part of Penistone. This will provide a better understanding of the oil water contact, enable a more accurate quantification of hydrocarbon resource volumes and assist with the optimization of future well placement.

Europa Oil & Gas CEO, Hugh Mackay, commented in a company statement:

“We are gaining a thorough understanding of the Wressle discovery which, during initial testing earlier this year, produced a total of 710 barrels of oil equivalent per day from four payzones. We are encouraged by the results of the extended well test of the Penistone oil zone, which could be larger than first envisaged.”

Europa has a 33.3 percent working interest in PEDL180 in East Lincolnshire, UK, alongside Egdon, which is the operator of the license with a 25 percent interest, Celtique Energie Petroleum Ltd, which holds a 33.3 percent interest, and Union Jack Oil, which holds an 8.3 percent interest.



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