25th Nov 2010 07:00
25th November 2010
Europa Oil & Gas (Holdings) plc
Barchiz Test Programme
The Directors of Europa Oil & Gas (Holdings) plc are pleased to provide an update on drilling results from the Barchiz-1 exploration well in Romania.
The well has now reached a final total depth of 1,450m and is being prepared for testing. Oligocene sandstone reservoirs similar to those seen in the nearby Geamana Field were encountered in the interval between 520 and 580m. These presented live oil shows and the wireline logs calculate potential oil pay of up to 20m net thickness. The Operator, MND, is recommending two drillstem test intervals: 522.5 - 531m and 548 - 558.5 m.
Paul Barrett, Managing Director, said "Clearly we are extremely encouraged by this result and look forward to seeing the flow test results in the coming weeks."
Further information:Europa Oil & Gas
Paul Barrett / Phil Greenhalgh Tel: +44 1235 553 266
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Sarah Wharry / Henrik Persson, Corporate Finance Tel: +44 207 220 0567 Joanna Weaving, Corporate Broking Tel: +44 207 600 1658
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