Europa Oil & Gas (Holdings) PLC Extension of Licence PEDL 143, the Weald Basin

 
TIDMEOG 
 
Europa Oil & Gas (Holdings) plc / Index: AIM / Epic: EOG / Sector: Oil & Gas 
 
27 June 2016 
 
          Europa Oil & Gas (Holdings) plc ('Europa' or 'the Company') 
 
                 Extension of Licence PEDL 143, the Weald Basin 
 
Europa Oil & Gas (Holdings) plc, the AIM listed oil and gas exploration, 
development and production company focused on Europe, is pleased to announce it 
has received notification from the Oil & Gas Authority that the PEDL 143 
Licence in the Weald Basin, Surrey, UK, has been extended by two years until 1 
October 2018.  This will enable Europa to drill the conventional Holmwood 
prospect ('Holmwood'), which has estimated gross mean unrisked prospective 
resources of 5.6 million barrels of oil ('mmbo') in Portlandian and Corallian 
sandstones and a P90 - P10 range of resources of 1 to 11mmbo, in late 2016 / H1 
2017, subject to funding. 
 
PEDL143 is located in an area of the Weald Basin where 30 million barrels have 
been produced to date from 14 oil and gas fields.  The Holmwood prospect is 
located 5km to the south of the Brockham oil field, which was discovered by BP 
in 1987 and today produces oil from Portlandian sandstone reservoirs.  Holmwood 
is also 12km to the west of the Horse Hill-1 well in PEDL137 where UK Oil & Gas 
Investments PLC ('UKOG') has reported production at a combined average stable 
rate of over 1,688 bopd from Upper and Lower Kimmeridge Limestone reservoirs 
and Upper Portland sandstone reservoir during flow tests. 
 
Planning permission is in place for a deviated exploration well to be drilled 
at Holmwood which will penetrate similar stratigraphy to Horse Hill, targeting 
oil in Upper and Lower Kimmeridge Limestones in addition to Corallian and 
Portlandian sandstones.  The 5.6mmbo gross mean unrisked prospective resources 
at Holmwood do not include any estimate for the Jurassic limestones which have 
been found to be producing in Horse Hill.  Subject to approval from the Oil & 
Gas Authority for the farm out to Union Jack Oil ('UJO') (see announcement of 
23 May 2016 for further details), Europa will have a 32.5% interest in, and 
operatorship of, PEDL143 alongside Egdon Resources (18.4%), Altwood Petroleum 
(1.6%), Warwick Energy (10%), UKOG (30%), and UJO (7.5%). 
 
Europa CEO Hugh Mackay said, "The licence extension was necessary to drill the 
5.6mmbo Holmwood prospect in late 2016 / H1 2017.  We are looking forward to 
drilling this conventional prospect which we rate as having a one in three 
chance of success, as we focus on further growing our UK onshore production, 
which is on track to more than double to in excess of 250 bopd in H2 2016 when 
the Wressle discovery comes on stream." 
 
                                 * * ENDS * * 
 
For further information please visit http://www.europaoil.com/ or contact: 
 
Hugh Mackay       Europa                        + 44 (0) 20 7224 
                                                3770 
 
Phil Greenhalgh   Europa                        + 44 (0) 20 7224 
                                                3770 
 
Matt Goode        finnCap Ltd                   + 44 (0) 20 7220 
                                                0500 
 
Simon Hicks       finnCap Ltd                   + 44 (0) 20 7220 
                                                0500 
 
Frank Buhagiar    St Brides Partners Ltd        + 44 (0) 20 7236 
                                                1177 
 
Susie Geliher     St Brides Partners Ltd        + 44 (0) 20 7236 
                                                1177 
 
Notes 
 
Europa Oil & Gas (Holdings) plc has a diversified portfolio of multi-stage 
hydrocarbon assets that includes production, exploration and development 
interests, in countries that are politically stable, have transparent licensing 
processes, and offer attractive terms.  In 2015 Europa produced 141 boepd.  Its 
highly prospective exploration projects include the Wressle development 
(targeting production start-up later in 2016 at up to 500 bopd gross) in the 
UK; 100% owned gas exploration prospect (107 bcf) and appraisal project (CPR 
277 bcf) in onshore France, a joint venture with Vermilion Energy also in 
onshore France; and seven licences offshore Ireland with the potential to host 
gross mean un-risked resources of more than 4 billion barrels oil and 1.5 tcf 
gas across all seven licences. 
 
 
 
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