Europa Oil & Gas Holdings PLC - exploration and production company focussed on Morocco and Ireland - The Wressle-1 well, in which Europa hold a 30% interest, alongside a 30% share by Egdon Resources PLC and 40% share by Union Jack Oil PLC, has produced at an 666 barrels of oil per day, plus 368,000 cubic feet of gas over the last seven day period.
In early 2022, testing is expected to be completed, with decisions to be made on the plateau production rate.
"I am delighted to report the continuing excellent performance of Wressle and look forward to the completion of testing of the full potential of this well and further announcements on the plans ahead," says Chief Executive Officer Simon Oddie.
Current stock price: 1.17 pence, up 8.7% on Thursday
Year-to-date change: up 6.4%
By Dayo Laniyan; dayolaniyan@alliancenews.com
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Europa Oil & Gas (EOG)
Union Jack (UJO)