Last checked at 22 Apr 2009 10:54
Planning Permission
The Directors of Europa Oil & Gas (Holdings) plc are pleased to announce that Lincolnshire County Council has granted planning permission to drill an exploration well at West Whisby on the PEDL150 licence, near Lincoln.
The West Whisby Prospect is targeting the two Carboniferous sandstone reservoirs which are oil-bearing in the Whisby Field, only 2km to the east. Underlying these reservoirs is a feature interpreted as a possible fringing reef providing significant upside to the prospect.
Currently, Europa has secured planning permission for three wells across its East Midlands portfolio in Lincolnshire: Hykeham-1, West Firsby-9 and West Whisby-1. The timing of the drilling programme for these wells is subject to finance, though currently scheduled to begin in the 3rd Qtr 2009 with the completion of the low risk Hykeham-1 well.
Paul Barrett, Managing Director, said `Europa's strategy in the East Midlands is to optimise its producing assets in tandem with increasing reserves. Europa currently produces over 200 barrels of oil per day and the forward programme of drilling in the established Carboniferous structural play offers both a low-risk approach to reserves growth and the opportunity to significantly increase daily production through 2009'.
For further information, please contact;
Paul Barrett Europa Oil & Gas (Holdings) plc 01235 553 266 Jonathan Wright Seymour Pierce 0207 107 8050
www.europaoil.com
EUROPA OIL & GAS (HOLDINGS) PLC