Europa Oil & Gas hit by drilling delay amid bad weather
21 January 2010
UK exploration and production group Europa Oil & Gas today said that bad weather had delayed completion operations at its Hykeham-1Z well, which lies on the PEDL150 licence near Lincoln, onshore UK.
Site operations have been delayed by recent freezing weather in the UK and it is now anticipated that completion operations on the well will begin on January 25.
Europa is planning to perforate the well for an extended flow test of up to six months, for which it has now received approval from the Department of Energy and Clinat Change.
Hykeham is a low risk prospect situated in the main producing fairway of the East Midlands Petroleum Province. It is one of several leads and prospects identified on the PEDL150 licence each with similar risk/reward profiles.
Success at Hykeham would significantly increase Europa's oil production levels and more than double the group’s 2P reserves. Across the East Midlands Petroleum Province, Europa has a significant high quality exploration holding of over 100,000 net acres containing 12 identified leads and prospects with gross unrisked potential for over 350 million barrels of oil in place.
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