Europa Oil & Gas commences seismic acquisition at PEDL 181 licence
AIM-listed Europa Oil & Gas has commenced 2D seismic acquisition on the PEDL 181 licence in East Lincolnshire, an operational update from the company has shown.
AIM-listed Europa Oil & Gas has commenced 2D seismic acquisition on the PEDL 181 licence in East Lincolnshire, an operational update from the company has shown.
The group reported that several prospects or leads had been confirmed on PEDL 181 following technical evaluation. It said that four leads reported in the southern part of the licence with reservoirs of Carboniferous age would be the focus of immediate further work.
Three leads were found to lie within the North East trending Caistor anticline and one lead, named Cuxwold, was located to the south of the Caistor anticline trend.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Hugh Mackay, Chief Executive Officer of Europa Oil & Gas, commented: "The identification of four leads on PEDL 181, which is located next to the PEDL 180 and 182 licences, where we are due to drill an exploration well this year, and our producing oil field at Crosby Warren, is highly encouraging.
He added: "The results of the 2D seismic acquisition programme, alongside the interpretation of the reprocessed existing 3D datasets, will further define the prospectivity of the PEDL 181 licence and determine our future work programme."
Europa Oil & Gas' Share price was unchanged at 9.62p at 08:00 on Tuesday.
MF
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
Review: Eden Roc Cap Cana – fun, sun and golf in the Caribbean
Travel Eden Roc Cap Cana in the Dominican Republic offers everything from relaxing by the pool to a world-class golf course
-
Reeves delays cash ISA reform, but savers are not out of the woods yet
The chancellor has reportedly delayed plans to cut the cash ISA limit, which were set to be announced at Mansion House on 15 July, and will take more time to consult with the industry