21st Feb 2005 09:41
Europa Oil & Gas (Holdings) PLC21 February 2005 EUROPA OIL & GAS (HOLDINGS) PLC ("EUROPA") RIG MOBILISED TO WEST FIRSBY FIELD, ENGLAND 21 FEBRUARY 2005 Europa Oil & Gas (Holdings) plc, the independent oil & gas exploration andproduction group with assets in the UK and continental Europe, is pleased toannounce the mobilisation of the BDF Rig 28 to its West Firsby site,Lincolnshire, to drill a new production well in the West Firsby Field. West Firsby, situated 15km north of Lincoln, is currently producing 140bopd,predominantly from Europa's 2004 well, West Firsby-7. West Firsby-8 istargeting undeveloped reserves on the western flank of the field. The field was acquired with funding from Gemini Oil & Gas, who additionallyfunded drilling and seismic operations. West Firsby-8 will be funded 100% byEuropa. The terms of the repayment of the earlier Gemini funding have beenrevised to take this additional investment by Europa into account. Paul Barrett, Managing Director of Europa, said: "This is a significant step forward in the re-development of the West FirsbyField. If West Firsby-8 comes in on expectation, we believe there would then bescope for a further western flank production well, for which planning permissionhas already been granted." For further information, contact: Europa Oil & Gas (00 33 563 33 18 97) Paul Barrett Citigate Dewe Rogerson (020 7638 9571) Martin Jackson / George Cazenove Westhouse Securities LLP (020 7601 6100) Bill Staple / Tim Feather This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Europa Oil & Gas