Voitinel Gas Discovery Update

17 Nov 2009 07:00

Europa Oil & Gas (Holdings) plc

Voitinel Gas Discovery Update

The Directors of Europa Oil & Gas (Holdings) plc are pleased to announce the results of the drillstem test evaluation for Voitinel-1, the full details of which can be found in the Aurelian's RNS of today.

The assessment of the test results is that there is a likely range of gas in place in the tested interval of between 50 and 100 billion cubic feet. There is untested upside in further intervals interpreted as similarly gas-bearing which will be tested in due course.

The partnership will agree a forward appraisal plan for the discovery in the near future.

Paul Barrett, Managing Director of Europa, said `This is clearly excellent news. The key to the analysis is that no depletion was seen in the tests, lending confidence to the view that this represents a significant gas discovery with further untested upside.'

For further information, please contact:Europa Oil & Gas Paul Barrett 01235 553266Seymour Pierce Jonathan Wright 020 7107 8000