Europa Oil & Gas (Holdings) Plc Wressle Development Granted Planning Consent
January 17 2020 - 9:25AM
UK Regulatory
TIDMEOG
Europa Oil & Gas (Holdings) plc / Index: AIM / Epic: EOG / Sector: Oil & Gas
17 January 2020
Europa Oil & Gas (Holdings) plc ('Europa' or 'the Company')
Wressle Development Granted Planning Consent on Appeal
Europa Oil & Gas (Holdings) plc, the UK and Ireland focused oil and gas
exploration, development and production company, notes today's update from
Egdon Resources ('Egdon') that the Planning Inspectorate has today upheld the
appeal and granted planning consent for the development of the Wressle Oil
Field in North Lincolnshire licences PEDL180 and PEDL182 ('the Licences'). The
Inspector also allowed the application for an award of costs against North
Lincolnshire Council. Europa has a 30% working interest in the Licences,
alongside Egdon (operator, 30%), Union Jack Oil (27.5%), and Humber Oil & Gas
Limited (12.5%) (together 'the Partners').
Work will now begin on discharging the planning conditions and the detailed
planning for the development works at the Wressle oil field which was
discovered in 2014 by the Wressle-1 well. During testing, a total of 710
barrels of oil equivalent per day were recovered from three separate
reservoirs, the Ashover Grit, the Wingfield Flags and the Penistone Flags. In
September 2016, a Competent Person's Report provided independent estimates of
reserves and contingent and prospective oil and gas resources for the Wressle
discovery of 2.15 million stock tank barrels classified as discovered (2P+2C).
Simon Oddie, Chairman of Europa, said: "The granting of planning consent for
the development of the Wressle oil field is a milestone event for Europa.
Under the development plan, Wressle is expected to commence production at an
initial gross rate of 500bopd, which would more than double Europa's existing
UK onshore production to over 200bopd. With this in mind, we look forward to
working with our partners in the Licences to discharge the planning conditions
and bring Wressle into production at the earliest opportunity."
* * ENDS * *
For further information please visit www.europaoil.com or contact:
Simon Oddie Europa + 44 (0) 20 7224
3770
Phil Greenhalgh Europa + 44 (0) 20 7224
3770
Christopher finnCap Ltd + 44 (0) 20 7220
Raggett 0500
Simon Hicks finnCap Ltd + 44 (0) 20 7220
0500
Frank Buhagiar St Brides Partners Ltd + 44 (0) 20 7236
1177
Megan Dennison St Brides Partners Ltd + 44 (0) 20 7236
1177
Notes
Europa Oil & Gas (Holdings) plc has a diversified portfolio of multi-stage
hydrocarbon assets that includes production, exploration and development
interests, in countries that are politically stable, have transparent licensing
processes, and offer attractive terms. In 2019 Europa produced 91 boepd. Its
highly prospective exploration projects include the Wressle development in the
UK (targeting production start-up in 2020 at 500 bopd gross) and six licences
offshore Ireland with the potential to host gross mean un-risked prospective
resources of 6.4 billion barrels oil equivalent and 1.5 tcf gas across all six
licences. The Company's flagship project offshore Ireland is the Inishkea
prospect - a near field gas exploration project with 1.5 trillion cubic feet
('TCF') gross mean un-risked prospective gas resources.
END
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