Last checked at 15 Apr 2010 07:00
Europa Oil & Gas (Holdings) plc
RNS15-04-10Voitinel-1 Test Update
The Directors of Europa Oil & Gas (Holdings) plc are pleased to provide an update on the timing of operations on the Voitinel-1 well, northern Romania.
The Operator, Aurelian Oil & Gas, has advised the joint venture partners that Schlumberger have been contracted to undertake a proppant frac stimulation of the `1650 sand', an interval that flowed dry gas at rates of up to 3 mmscfpd un-stimulated on the initial test. The programme is anticipated to take place during May. Following the frac treatment and a short flow test, the well will be shut-in for pressure build-up for 14 days, after which the additional potential in the `1400 sand' will be tested.
Current estimates for gas-in-place for the Voitinel play on-block are up to 400bcf. Europa's working interest is 28.75%, equivalent to approximately 15mmbo recoverable net to Europa.
Paul Barrett, Managing Director, said `We are looking forward to the results of the stimulation programme, which will provide us with valuable information on this significant gas discovery. It will give us better confidence in gas-in-place numbers and in our development planning for the field.'
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.
For further information, please contact:
Paul Barrett Europa +44 7971 528 754Toby Gibbs Astaire Securities +44 7448 4419
EUROPA OIL & GAS (HOLDINGS) PLC