Europa Completes 2D Program in East Midlands
Europa Oil & Gas (Holdings) plc reported the completion of its 2D seismic acquisition program on the PEDL150 license, located near Lincoln in the East Midlands region of the U.K. The 50-km survey was designed to mature several currently identified leads to drillable prospect status.
The survey area surrounds the Whisby Field, where Europa drilled a farm-in well in 2003. This well has since produced over 200,000 barrels of oil and continues to be an excellent performer with remaining potential for many years of future revenue generation.
By funding the acquisition of this survey, Valhalla Oil & Gas plc earn a 25% interest in PEDL150 and hold an option to earn an additional 25% by funding a further 50% of an exploration well.
Paul Barrett, Managing Director of Europa said, "This survey covers a number of leads and we are confident that at least one of these will develop into a near-term drilling candidate."
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 program across Europe and the North African region.
- Europa Oil & Gas Completes Shale Petroleum UK Acquisition (Aug 15)
- Europa Relinquishes Part of PEDL 181 (Jul 04)
- Europa Granted 2 Year Extension to PEDL 143 (Jun 27)
Company: Valhalla Oil & Gas more info
- Egdon Concludes Acquisition of Valhalla Interest (Mar 14)
- Egdon Acquires Valhalla Interest in UK (Jan 28)
- Europa Gears Up to Drill Hykeham Main Section Onshore UK (Oct 26)