Wressle-1 Well Test Exceeds Expectations

Junior producer Europa Oil & Gas reported Tuesday that an ongoing extended well test (EWT) on the onshore Wressle-1 oil and gas well in east Lincolnshire, England, has produced more than 180 barrels of oil equivalent per day (boepd). The production rate, which analysts who follow the company described as "a much better result than the company expected", was achieved following pumped test operations over the Penistone Flags oil zone.

Europa noted that the EWT follows the successful testing earlier this year of four intervals at Wressle, which recovered a total of 710 boepd from all four of the well's payzones.

Europa CEO Hugh Mackay commented in a company statement:

"182 boepd from just the first interval to be pump tested is an excellent result and exceeds pre-test expectations. With an injection test on the Penistone Flags and pumped testing of the Ashover Grit interval to follow, we are making good progress towards realising the commercial potential of the Wressle discovery, which lies on structural trend with and 5 kilometers [three miles] from the Europa-operated Crosby Warren field.

"Based on the results seen to date and our 33.3-percent interest in the license, Wressle has the potential to significantly increase our existing UK reserves, production and revenues and I look forward to providing further updates on our progress at the well."

Mark Abbott, managing director of Egdon Resources, which operates the well, added in a separate statement:

"I am pleased to report the continuing encouraging results from the Wressle-1 test program. The hydrocarbon production rate of over 180 barrels of oil equivalent per day attained from the Penistone Flags oil zone has exceeded pre-test expectations. The production performance together with the planned injection test will provide valuable reservoir engineering data that will be used to plan for a commercial development of the Penistone Flags."



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