Europa Oil & Gas (Holdings) PLC Wressle Update (4302Q)

TIDMEOG

RNS Number : 4302Q

Europa Oil & Gas (Holdings) PLC

18 October 2023

Europa Oil & Gas (Holdings) plc / Index: AIM / Epic: EOG / Sector: Oil & Gas

18 October 2023

Europa Oil & Gas (Holdings) plc

("Europa" or the "Company")

Wressle Update

Europa Oil & Gas (Holdings) plc, the AIM traded UK and Ireland focused oil and gas exploration, development and production company, is pleased to announce that workover operations on the Wressle-1 well to install a downhole jet pump and recomplete the well have been successfully concluded. The workover rig has been demobilised from the Wressle site.

A new surface Triplex pump has been purchased and has been installed and connected. The final stages of the surface facilities upgrades are nearing completion. The re-instatement of production operations at Wressle-1 well is currently expected during the week commencing 23 October 2023.

Europa holds a 30% economic interest in Wressle (PEDL180/182).

Will Holland, Chief Executive Officer of Europa, said:

"Operations to install a jet pump at our core Wressle oilfield are progressing well, with production from the field expected to restart next week. We are pleased that the work has gone so smoothly and I look forward to updating the market on resumption of production".

* * ENDS * *

For further information, please visit www.europaoil.com or contact:

 
 William Holland                Europa Oil & Gas (Holdings)    mail@europaoil.com 
                                 plc 
                                Strand Hanson Limited 
                                 - Nominated & Financial       +44 (0) 20 7409 
 James Dance / James Spinney     Adviser                        3494 
                                                               +44 (0) 20 7186 
 Peter Krens                    Tennyson Securities             9033 
 Patrick d'Ancona / Finlay                                     + 44 (0) 20 7390 
  Thomson / Kendall Hill        Vigo Consulting                 0230

Notes to Editors

Europa Oil & Gas (Holdings) plc has a diversified portfolio of multi-stage hydrocarbon assets which includes production, development and exploration interests, in countries that are politically stable, have transparent licensing processes, and offer attractive terms. Average production for the 6-month period ending 31 January 2023 was 268 bopd. In April 2022, Europa farmed into P.2358, Block 13/23c ("Serenity") in the Outer Moray Firth area of the North Sea. The licence contains the 2019 Serenity oil discovery, in which Europa has a 25% interest. The Company holds one exploration licence offshore Ireland, which has two principal prospects, the largest of which has the potential to host gross mean un-risked prospective resources of 1.5 trillion cubic feet ("tcf") gas. Inishkea is a near field gas prospect in the Slyne Basin which the Company classifies as lower risk due to its close proximity to the producing Corrib gas field and associated gas processing infrastructure.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

UPDMRBATMTABBAJ

(END) Dow Jones Newswires

October 18, 2023 02:00 ET (06:00 GMT)

Europa Oil & Gas (holdin... (LSE:EOG)
Historical Stock Chart
From Mar 2024 to Apr 2024