Europa Grabs Promising License in UK's 13th Round
The Directors of Europa Oil & Gas announced the award of a six year exploration license in the UK onshore 13th Round, covering a large area in North Lincolnshire. The license will be operated by Europa, with a 50% working interest, the remainder being held by Valhalla Oil & Gas Limited.
The award lies in the Humber Basin which contains significant oil and gas fields, such as Europa's Crosby Warren Oilfield and the large (90 billion cubic feet) Saltfleetby Gasfield. However, historical exploration drilling density in the Basin is remarkably low, with only one well drilled in the awarded license area to date.
The award covers an area of approximately 600km2 (equivalent to 3 UK North Sea blocks) and contains 9 currently identified leads and prospects with a combined mid-range prospective resource of 50 million barrels recoverable.
"This is a significant addition to our existing high quality exploration portfolio, representing a large holding in a proven, yet almost unexplored, petroliferous basin," said Paul Barrett, Managing Director of Europa. "I am especially delighted as this was a rare opportunity to acquire such a large underexplored prospective area in the UK and the award perfectly complements our existing East Midlands portfolio of mainly producing assets."
- 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)