Europa Oil & Gas Updates Romanian Activity

Europa Oil & Gas has received both drilling approval and an extension to the licence 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.

The 2011 seismic programme in Romania is underway, with the EIII-3 Cuejdiu area (Europa 17.5%) acquisition over 70% complete. The EIII-1 Brodina programme will follow on from this survey. Both of these seismic programmes are concentrating on the underexplored thrustbelt oil play.

Aurelian Oil & Gas, operator of the Brodina Concession in northern Romania, has advised its partners that the Voitinel gas discovery appraisal well is due to spud on or around 1st October 2011. Europa’s holds a 28.75 percent interested Brodina concession. 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.

Paul Barrett, Managing Director, 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.

Source: Europa Oil & Gas