Scandoil  

Europa Oil & Gas offshore Ireland prospects valued at $7 billion


Published Oct 27, 2015
Europa Oil & Gas (Holdings) plc

Europa Oil & Gas (Holdings) plc says that an independent assessment undertaken by ERC Equipoise estimates a mean Un-risked Net Present Value of approximately US$7 billion to a 100% working interest (subject to government approval) in three prospects on Frontier Exploration Licence 3/13 in the Porcupine Basin, offshore Ireland. On a Risked NPV basis the study estimates a 100% working interest (subject to government approval) at US$1.1 billion. As announced on 12 May 2015, a Competent Persons Report prepared by ERCE detailed total Gross mean Un-risked Prospective Resources of 1.5 billion barrels of oil equivalent across the three prospects in FEL 3/13.

On 16 June 2015, Europa advised the market of an independent assessment by ERCE of the NPV of its then 15% carried interest in FEL 3/13. Following the announcement of 22 September 2015 that Kosmos Energy Ireland intends to withdraw from Ireland, Europa instructed ERCE to revise the NPV to reflect a 100% working interest in the permit and without the benefit of a carried work programme. The estimate of NPV provided today also incorporates an updated oil price assumption and cost deck.

Tags: Europa Oil & Gas (Holdings) plc




Advertisment:

Add a Comment to this Article

Please be civil. Job and promotion will not be added into the comment page.

(Use Markdown for formatting.)

This question helps prevent spam:

+ Larger Font | + Smaller Font
Top Stories

 

 

 

 


 


RSS

RSS
Newsletter
Newsletter
Mobile News
Mobile news

Computer
Our news on
your website


Facebook
Facebook
Twitter
Twitter

Contact
Contact
Tips
Do you have any
tips to us
Stats

 

sitemap xml