Europa Oil & Gas Regulatory News (EOG)

6 Apr 2010 07:00

Europa Oil & Gas (Holdings) plc

RNS06-04-10Hykeham-1 Well Update

The Directors of Europa Oil & Gas (Holdings) plc wish to provide an update on operations at the Hykeham-1 well. The well has been re-perforated and a pump installed to lift the well. To date, the well has produced only small volumes of liquid and some gas. This result is completely incompatible with both the wireline log and geological data from the well.

The well will be shut-in until the analysis is complete and a decision is made on the forward programme. If this analysis concludes that remedial action is not appropriate, the well will be abandoned.

Paul Barrett, Managing Director, said `I have experience of many wells over several decades and never seen such a mismatch between the test data and the geological data for the reservoir. We believe that this reservoir is oil-bearing and will flow given the right completion conditions and will be working to achieve this over the coming months.'

The technical opinions in this announcement have been reviewed and approved by Dr. Erika Syba and Paul Barrett, both experienced geologists with over 50 years combined oil and gas experience.

Europa is Operator and holds a 75% working interest in the PEDL150 licence, containing the Hykeham well.

For further information, please contact:

Paul Barrett Europa +44 7971 528 754Jonathan Wright Seymour Pierce +44 20 7107 8050