Europa Oil & Gas (Holdings) plc, provides an update on its 50% owned and operated PEDL 181 licence (‘the Licence’ or ‘PEDL 181’) located in East Lincolnshire, a known oil producing region, and covering a total area of approximately 540 sq km.

Europa’s CEO, Hugh Mackay commented, “The identification of four leads on PEDL 181, which is located next to the PEDL 180 & 182 licences where we are due to drill an exploration well in the first half of 2013 and our producing oil field at Crosby Warren, is highly encouraging. As previously identified targets are drilled, it is important we maintain a pipeline of leads and prospects at various stages of development. Our strategy of developing a diversified asset base comprised of multiple licences including UK production and exploration, a gas appraisal project onshore France, and high impact frontier exploration in the Irish Atlantic Margin where we recently identified two large prospects, provides a portfolio for future drilling. The results of the 2D seismic acquisition programme, alongside the interpretation of the reprocessed existing 3D datasets, will further define the prospectivity of the PEDL 181 licence and determine our future work programme.”

Tags: Europa Oil & Gas (Holdings) plc