9th Mar 2005 07:00
Europa Oil & Gas (Holdings) PLC09 March 2005 EUROPA OIL & GAS (HOLDINGS) PLC ("EUROPA") COMPLETION OF WHISBY AREA GEOCHEMICAL SURVEY 9 March 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 completion of the acquisition phase of the Whisby Area geochemicalsurvey on licence PEDL150, Lincolnshire. The field survey, conducted by W.L.Gore and Associates, recovered 252 sample modules for analysis. The sampleshave now arrived at Gore's Maryland facility and analysis is expected to take upto 2 months. The survey is designed to quantify the extent of the Loxley Edge oil pooldiscovered in Europa's 2003 Whisby-4 well1. Loxley Edge reservoir contributionis believed to be the main reason for the excellent production performance ofthe Whisby-4 well compared to previous Whisby wells. Europa secured exclusiveexploration rights to the acreage surrounding the Whisby Field in October 2004in order to pursue this play. The Gore survey analyses a large number of marker compounds present in the nearsurface and uses multivariate statistical analysis methods, calibrated with welldata points, to identify geochemical anomalies related to oil accumulations. Paul Barrett, Managing Director of Europa, said: "This survey will help us quantify the extent of the Loxley Edge oilaccumulation and therefore the reserves potential for the licence. By thesummer, we hope to know whether additional seismic will be required to define adrilling location or that the level of information is sufficient to go straightto drilling." 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 _______________________ 1 75% net revenue interest. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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