Partners Identify Three Potential Bearing Zones with Wressle-1 Exploration Well

Europa Oil & Gas wrote on Monday that the Wressle-1 exploration well in central England hinted at the presence of three potential hydrocarbon bearing zones. The well on the PEDL 180 licence in East Lincolnshire will go through production testing from November 2014.

“Having identified over 30 metres of potential hydrocarbon pay in three main intervals we look forward to the commencement of testing operations on the Wressle 1 well in the next few weeks and to determine if we have made a commercial discovery. Testing Wressle will be closely followed by drilling the 2.9mmbo conventional Kiln Lane prospect,” Europa’s CEO, Hugh Mackay commented in a note.

Egdon Resources is the operator of the licence and holds 25% working interest. Europa controls a 33.3% working interest, with the remaining in the hands of Celtique Energie Petroleum (33.3%) and Union Jack Oil (8.3%). 

‘Europa estimates the Kiln Lane prospect holds gross mean prospective of 2.9 mmbo and a discovery on this large previously undrilled licence would open up a new conventional oil and gas play and significantly de-risk additional leads identified on the licence.’ 

Also on Monday, Egdon reported strong production results.

‘Average net daily production for the financial year to 31 July 2014 was 238 boepd against our production guidance of 200 boepd, helped by strong performance from the Ceres gas field. Liquids production for the period was 53 boepd net,’ the company wrote in a separate statement.