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EOG Europa Oil & Gas (holdings) Plc

1.05
0.00 (0.00%)
18 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Europa Oil & Gas (holdings) Plc LSE:EOG London Ordinary Share GB00B03CJS30 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 1.05 1.00 1.10 1.05 1.05 1.05 689,584 08:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Oil And Gas Field Expl Svcs 6.65M -852k -0.0009 -11.67 10.05M

Europa Oil & Gas (Holdings) Plc Publication of CPR on Offshore Ireland Licence

26/10/2016 7:00am

UK Regulatory


 
TIDMEOG 
 
Europa Oil & Gas (Holdings) plc / Index: AIM / Epic: EOG / Sector: Oil & Gas 
 
26 October 2016 
 
          Europa Oil & Gas (Holdings) plc ('Europa' or 'the Company') 
 
         Publication of 1.5 billion boe CPR on Offshore Ireland Licence 
 
Europa Oil & Gas (Holdings) plc, the AIM listed oil and gas exploration, 
development and production company focused on Europe, is pleased to announce 
that, following the conclusion of the 2015 Atlantic Ireland Licensing Round, 
the Competent Persons Report (CPR) undertaken by ERC Equipoise Ltd (`ERCE') 
covering Frontier Exploration Licence ('FEL') 3/13 in the Porcupine Basin, 
offshore West Ireland has been uploaded onto the Company's website. 
 
The report can be found http://www.europaoil.com/reportsandpresentations.aspx. 
 
A summary of the CPR was announced on 12 May 2015 and identified combined gross 
mean un-risked prospective resources of 1.5 billion boe across three Cretaceous 
fan prospects (Beckett, Shaw and Wilde) in FEL 3/13.  Further work by ERCE 
announced on 26 October 2015 indentified US$7 billion net mean un-risked NPV10 
for Europa's 100% interest in these three prospects in FEL 3/13. 
 
Prospect Wilde in FEL 3/13 is considered drill ready and has gross mean 
un-risked prospective resources of 428 million boe, a chance of success of 1 in 
5.3 and a drill cost of US$37 million, excluding mobilisation and 
demobilisation.  Europa's intended well location on Wilde would also penetrate 
the edge of Prospect Beckett and would therefore potentially provide critical 
information about this 728 million boe prospect. 
 
Europa is participating in the Atlantic Ireland conference in Dublin on 1 and 2 
November 2016 where it has a stand and will be making two presentations: 
 
  * "Insights into the geology of the South Porcupine from 3D seismic over 
    FEL's 2/13 and 3/13"; and 
  * "Europa Atlantic Ireland - acreage, prospects and farm-out timeline". 
 
Both presentations will be posted onto Europa's website.  The Board would be 
pleased to meet interested parties in Dublin to discuss insights and 
opportunities arising from the Company's Atlantic Ireland portfolio. 
 
                                 * * ENDS * * 
 
For further information please visit http://www.europaoil.com/ or contact: 
 
Hugh Mackay       Europa                        + 44 (0) 20 7224 
                                                3770 
 
Phil Greenhalgh   Europa                        + 44 (0) 20 7224 
                                                3770 
 
Matt Goode        finnCap Ltd                   + 44 (0) 20 7220 
                                                0500 
 
Simon Hicks       finnCap Ltd                   + 44 (0) 20 7220 
                                                0500 
 
Frank Buhagiar    St Brides Partners Ltd        + 44 (0) 20 7236 
                                                1177 
 
Susie Geliher     St Brides Partners Ltd        + 44 (0) 20 7236 
                                                1177 
 
Notes 
 
Europa Oil & Gas (Holdings) plc has a diversified portfolio of multi-stage 
hydrocarbon assets that includes production, exploration and development 
interests, in countries that are politically stable, have transparent licensing 
processes, and offer attractive terms.  In 2016 Europa produced 123 boepd.  Its 
highly prospective exploration projects include the Wressle development 
(targeting production start-up in early 2017 at up to 500 bopd gross) in the 
UK; and seven licences offshore Ireland with the potential to host gross mean 
un-risked prospective and indicative resources of more than 4 billion barrels 
oil equivalent and 1.5 tcf gas across all seven licences. 
 
Qualified Person Review 
 
This release has been reviewed by Hugh Mackay, Chief Executive of Europa, who 
is a petroleum geologist with 30 years' experience in petroleum exploration and 
a member of the Petroleum Exploration Society of Great Britain, American 
Association of Petroleum Geologists and Fellow of the Geological Society. Mr 
Mackay has consented to the inclusion of the technical information in this 
release in the form and context in which it appears. 
 
 
 
END 
 

(END) Dow Jones Newswires

October 26, 2016 02:00 ET (06:00 GMT)

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