Last checked at 9 Sep 2010 07:00
9 September 2010
Aurelian Romania and Barchiz Updates
The Directors of Europa Oil & Gas (Holdings) plc wish to provide an update on the Company's Romanian operations in addition to that provided today by Aurelian Oil & Gas plc. The main points of the release made today by Aurelian are as follows:
* Voitinel gas-in-place figures up to more than 400 bcf confirmed with new well and test data * New prospect identified to the west of Voitinel * 2010 Seismic acquisition campaign is complete and being processed * Preliminary data has revealed several leads in the Cuejdiu oil play, each of 50-100mmbo size range * Significant upgrade likely of Cuejdiu Licence Prospective Resources in the thrust belt oil play as a result of the new data
In addition, the Company has been informed by the Operator, MND, that the Barchiz-1 exploration well, situated in the Brates Block (Europa 20%), is anticipated to spud in late September. This prospect is situated close to and along trend with the Moinesti Oilfields and will be the first thrust belt play well drilled in this part of the basin based on modern seismic data. It has potential for up to 30 mmbo reserves and if successful is one of several similar leads on the Brates Licence that trend up towards the newly identified leads on the Cuejdiu Licence.
Paul Barrett, Managing Director, said `It is very encouraging that the 2010 seismic data is already capable of identifying structural leads even at the early processing stages. It bodes well for the oil play exploration programme in this underexplored part of the 5 billion barrel fairway.'
For more information, contact:
Europa Oil & Gas Paul Barrett +44 1235 467 360
Astaire Securities Shane Gallwey/Toby Gibbs +44 20 7492 4750 Astaire Securities Charles Vaughan +44 20 7492 4763
The contents of this news release have been reviewed and approved by Paul Barrett, MSc., a geologist with over 30 years oil and gas experience.
The full Aurelian news release can be found at www.aurelianoil.com
EUROPA OIL & GAS (HOLDINGS) PLC