Wednesday, July 20, 2011
Europa O&G Holdings plc
Europa provided an update on planned operations in Romania for the coming 6 months.
Europa has received both drilling approval and an extension to the license from the Romanian authorities in order to undertake the deepening of the Barchiz-1 exploration well, situated in the EPI-3 Brates Concession (Europa 100%). The deepening of the well is planned to test the exploration target thought to lie beneath the current 1,450m depth of the well.
Aurelian Oil & Gas, the Operator of the Brodina Concession (Europa 28.75%) in northern Romania, has advised partners that the Voitinel gas discovery appraisal well is due to spud on or around October 1, 2011. Subject to the results of this well, a further well is anticipated to be drilled to test the upside to the play in early 2012.
The 2011 seismic program in Romania is underway, with the EIII-3 Cuejdiu area (Europa 17.5%) acquisition over 70% complete. The EIII-1 Brodina program will follow on from this survey. Both of these seismic programs are concentrating on the underexplored thrustbelt oil play.
Managing Director Paul Barrett said, "these Romanian projects are coming together to create a significant amount of activity for the remainder of 2011 and we hope to exit the year with greater reserves and contingent resources."
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