23rd Mar 2015 07:34
LONDON (Alliance News) - Europa Oil & Gas (Holdings) PLC and Egdon Resources PLC Monday said they have plugged and abandoned the Kiln Lane-1 exploration well in the East Midlands of England and will return the site to farmland after drilling encountered sandstones with too much water.
In a statement, Europa, which is the operator of the PEDL 181 license with a 50% working interest, said the drilling had found significant oil and gas shows, but wireline logging and subsequent petrophysical analysis indicated that the sandstones encountered are water wet.
"Kiln Lane was the first well to be drilled on this large licence where multiple leads have been identified. The presence of hydrocarbon shows is encouraging and the quality of data recovered will enable clear decision making going forwards. Over the coming weeks and months more technical work will be conducted on all the data and geological samples recovered from the well as we refine our hydrocarbon system model and plan our next steps for the licence," Europa Chief Executive Hugh Mackay said in a statement.
The company is still testing the Wressle discovery in the PEDL 180 license, and expects to complete the tests shortly followed by an extended well test later this year.
Egdon Resources has a 25.0% interest in PEDL 181. Celtique Energie Petroleum Ltd has the remaining 25.0% interest.
By Steve McGrath; [email protected]; @stevemcgrath1
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