Europa Oil & Gas (Holdings) has completed a Competent Persons Report by ERC Equipoise Ltd on the Prospective Resources in Frontier Exploration Licence 3/13 located in the Porcupine Basin, offshore West Ireland. Europa holds a 15% interest in FEL 3/13, with the operator Kosmos Energy holding the remaining 85%.
•Europa's in-house technical team has conducted its own independent prospect mapping based on proprietary 3-D seismic data acquired in 2013 and which was provided to ERCE, who have undertaken their own independent assessment of the Prospective Resources associated with the Wilde, Beckett and Shaw prospects
•The CPR details total gross un-risked mean Prospective Resources of 1.49 billion barrels of oil equivalent ('bboe') on FEL 3/13
◦Net 225 million barrels of oil equivalent to Europa
◦The CPR has upgraded Shaw, previously classified as a lead, into a prospect with gross mean un-risked Prospective Resources of 315 mmboe
•Europa has identified both a prospect and shotpoint location for what would be a play-opening first well in FEL 3/13 - Europa will review this with the operator, Kosmos.
•New prospects and leads identified by Europa on FEL 2/13 at additional stratigraphic levels to those previously identified by Kosmos in the prospect inventory delivered to Europa in December 2014 - Europa is consulting with Kosmos to advance these new prospects to a point where they can be included in a complete CPR for FEL 2/13 - further announcements will be made in due course