Europa Oil & Gas

Latest Europa Oil & Gas News

• Exploration costs of £1.3 million previously incurred by the Company associated with the Cuejdiu concession will be written off.
• Following its withdrawal from the Cuejdiu concession, Europa has interests in two concession areas in Romania: EPI-3 Brates and EIII-4 Bacau North A (Bacau).

• Europa Oil & Gas announce a significant improvement in UK production and revenues generated during the six month period ending 31 January 2012 compared to the equivalent period last year.

• As reported in the announcement of 16 December 2011, the West Firsby 7 well had been shut in due to a suspected hole in a section of the tubing.
• In keeping with the Company's active management of its asset base, an extensive review of the EIII-1 Brodina concession in northern Romania both in isolation as well as within the context of the portfolio as a whole was undertaken.
• Exploration costs of £2.7million previously incurred by the Company on the Voitinel and Horodnic wells at Brodina will be written off.

• Expected daily production for the six months to 31 January 2012 to average 185-190 bopd.

• Europa Oil & Gas provides a temporary suspension of production at the West Firsby 7 well in UK.
• Europa Oil & Gas's average daily production had been running at approximately 200 barrels of oil per day.

• The Horodnic-1 Well was designed to test the Sarmartian-Badenian sandstones that flowed gas at the Voitinel-1 discovery located 2.5 km to the northwest of Horodnic-1.
• This section at Horodnic-1 well contained a gross interval of 40 m of interbedded sandstones and mudstones together with some gas shows.
• Wireline log interpretation indicates that no potentially commercial hydrocarbon bearing interval was found. The well will be plugged and abandoned.
• Technical work will now focus on integrating the Horodnic results into the remaining prospects and discovery on the Voitinel trend.

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