Europa Oil & Gas (Holdings) is pleased to announce the completion of a 1,500 sq km 3-D seismic acquisition programme on Frontier Exploration Licences ('FELs') 2/13 and 3/13 in the South Porcupine Basin, offshore Ireland. Kosmos Energy Ireland Ltd ('Kosmos') is operator and holder of an 85% interest in both licences with Europa holding the remaining 15%.
Processing of the newly acquired seismic data has already commenced and delivery of the processed data is expected in Q1 2014. This state of the art dataset should enable detailed prospect mapping with the intention of significantly de-risking the previously identified prospectivity on both licences. Subject to the results of the interpretation of the data, the partnership should have sufficient technical and commercial information to make a drilling decision during the second half of 2014. If a positive drilling decision is taken, Europa anticipates that drill planning would then commence with the likely timing for drilling a well being 2015/16.