Last checked at 8 Dec 2010 13:18
Europa Oil & Gas (Holdings) plc
8 Dec 2010
Barchiz - Oil recovered on DST
The Directors of Europa Oil & Gas (Holdings) plc are pleased to announce that the upper DST on the Barchiz-1 well has recovered crude oil. Due to a failure of the DST packer to seal, the sample was contaminated with completion brine and the Operator is planning to re-run the DST with replacement equipment over the coming days to obtain better fluid and pressure data.
A further announcement will be made following agreement on a forward programme.
Paul Barrett, Managing Director of Europa, said "Oil inflow demonstrates mobile hydrocarbons in the reservoir. In addition to the oil now recognised in Barchiz, this result proves the thrustbelt petroleum system on-block and significantly de-risks the prospectivity of several nearby leads."
Further information:
Europa Oil & Gas
Paul Barrett / Phil Greenhalgh Tel: +44 1235 553 266
finnCap
Sarah Wharry / Henrik Persson, Corporate Finance Tel: +44 207 220 0567 Joanna Weaving, Corporate Broking Tel: +44 207 600 1658
This announcement has been reviewed by Paul Barrett BSc, MSc, a geologist with 30 years of experience in the mainstream oil and gas industry.
EUROPA OIL & GAS (HOLDINGS) PLC