Europa Oil & Gas (Holdings) PLC Wressle Update (8517K)
August 31 2023 - 2:00AM
UK Regulatory
TIDMEOG
RNS Number : 8517K
Europa Oil & Gas (Holdings) PLC
31 August 2023
Europa Oil & Gas (Holdings) plc / Index: AIM / Epic: EOG /
Sector: Oil & Gas
31 August 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 operations to
install artificial lift on the Wressle 1 well ("W1") (in which
Europa has a 30% interest) have commenced.
The operations began with a slickline programme where downhole
pressure and temperature gradients were acquired. Slickline
operations have now been completed and the ongoing work programme
includes recompleting the well for installation of a downhole jet
pump and installing the associated surface equipment. It is
expected that these operations will last around three weeks and
that production from the W1 well will be reinstated in late
September 2023.
The downhole data obtained from these activities is being
incorporated into the ongoing work by ERC Equipoise Ltd and the
impact of the artificial lift will be included in the independent
Competent Person's Report which will be announced once this
additional work is completed.
Will Holland, Chief Executive Officer of Europa, said:
"We have been working closely with our partners at Wressle to
identify ways of maximising the field's performance and the
installation of a jet pump to provide artificial lift has been
under consideration as a potential production enhancement programme
for some time. In addition, planning for the Wressle development
drilling programme continues, which will access the Penistone
reserves and utilise the existing infrastructure. I am very pleased
that work is under way and look forward to updating shareholders on
our further progress in due course."
* * 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.
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