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UK’s Egdon Resources to spud Lincolnshire exploration well in July

LONDON -- Europa Oil & Gas has been notified by Egdon Resources, the operator of License PEDL 180, in Lincolnshire, that the Wressle-1 conventional exploration well on the license is expected to spud in July 2014, once construction of the drill site and rig mobilization has been completed.

PEDL 180 covers an area of 100 sq km of the East Midlands Petroleum Province south of the Europa operated Crosby Warren field.  Europa has a 33.3% working interest in the license with its partners Egdon (operator, 25%), Celtique Energie Petroleum Ltd (33.3%) and Union Jack Oil (8.3%). 

49 sq km of 3-D seismic covering PEDL180 was acquired in 2012 and has been processed and interpreted.  Egdon estimates the Wressle prospect to hold mean gross un-risked recoverable resources of 2.1 MMbbl of oil.   

Europa’s CEO, Hugh Mackay said, “Wressle is the first of two conventional wells Europa will be drilling onshore UK in 2014, the other being Kiln Lane on PEDL 181.  Combined these two wells are targeting an estimated 5MMbo of mean gross un-risked recoverable resources, and each has a one in three chance of materially adding to our existing UK production. 

"Success at either of these wells would significantly de-risk our other prospects already identified and could lead to follow-up drilling activity in the near term.  Alongside the forthcoming drilling decision to be made by our partner, Kosmos Energy, in relation to our two offshore Ireland blocks, which we expect this summer, this is an exciting time for Europa, as we look to unlock the value of our multi-stage portfolio.”



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