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.

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

Recommended

Share tips of the week – 22 October
Share tips

Share tips of the week – 22 October

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
22 Oct 2021
Three dividend stocks from the dynamic Asia/Pacific region
Share tips

Three dividend stocks from the dynamic Asia/Pacific region

Professional investor Sat Duhra of the Henderson Far East Income investment trust highlights three of his favourite stocks.
18 Oct 2021
Share tips of the week – 15 October
Share tips

Share tips of the week – 15 October

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
15 Oct 2021
Trading: stash the family cash in this cheap wealth management firm
Trading

Trading: stash the family cash in this cheap wealth management firm

Wealth management is a growth market. Rathbone Brothers should be a prime beneficiary – and looks cheap. Matthew Partridge explains the best way to pl…
12 Oct 2021

Most Popular

How to invest as we move to a hydrogen economy
Energy

How to invest as we move to a hydrogen economy

The government has started to roll out its plans for switching us over from fossil fuels to hydrogen and renewable energy. Should investors buy in? St…
8 Oct 2021
How to invest in SMRs – the future of green energy
Energy

How to invest in SMRs – the future of green energy

The UK’s electricity supply needs to be more robust for days when the wind doesn’t blow. We need nuclear power, says Dominic Frisby. And the future of…
6 Oct 2021
Properties for sale for around £1m
Houses for sale

Properties for sale for around £1m

From a stone-built farmhouse in the Snowdonia National Park, to a Victorian terraced house close to London’s Regent’s Canal, eight of the best propert…
15 Oct 2021