20th Jul 2011 07:00
Europa Oil & Gas (Holdings) plc
Update on Romanian Operational Timings
The Directors of Europa Oil & Gas (Holdings) plc (Europa) are pleased to provide an update on planned operations in Romania for the coming 6 months.
Europa has received both drilling approval and an extension to the licence from the Romanian authorities in order to undertake the deepening of the Barchiz-1 exploration well, situated in the EPI-3 Brates Concession (Europa 100%). The deepening of the well is planned to test the exploration target thought to lie beneath the current 1,450m depth of the well.
Aurelian Oil & Gas, the Operator of the Brodina Concession (Europa 28.75%) in northern Romania, has advised partners that the Voitinel gas discovery appraisal well is due to spud on or around 1st October 2011. Subject to the results of this well, a further well is anticipated to be drilled to test the upside to the play in early 2012.
The 2011 seismic programme in Romania is underway, with the EIII-3 Cuejdiu area (Europa 17.5%) acquisition over 70% complete. The EIII-1 Brodina programme will follow on from this survey. Both of these seismic programmes are concentrating on the underexplored thrustbelt oil play.
Paul Barrett, Managing Director, said `these Romanian projects are coming together to create a significant amount of activity for the remainder of 2011 and we hope to exit the year with greater reserves and contingent resources.'
For more information, contact:
Europa
Paul Barrett +44 7971 528754
Phil Greenhalgh +44 1235 467362
finnCap +44 207 600 1658
Sarah Wharry / Henrik Persson, Corporate Finance
Joanna Weaving, Corporate Broking
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