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Additional Information
Market: AIM
Sector: Oil & Gas Exploration & Production
EPIC: EOG
Latest Price: 11.50  (19.48% Ascending)
52-week High: 41.25
52-week Low: 5.88
Market Cap: 15.85M
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Europa Oil & Gas
www.europaoil.com

 

Europa Oil & Gas is an active oil and gas explorer throughout the European region. It holds core producing oil assets in the UK, along with a wide range of exploration and appraisal projects in various stages of development in the UK, Romania, France and Western Sahara. 

 

The Company currently produces oil from three UK onshore oilfields, with ongoing appraisal work in Romania. The Company also holds a key gas appraisal asset in southwest France. Exploration for both conventional and unconventional hydrocarbons is an integral part of the portfolio and the Company continues to pursue this upside potential in all areas.

 

Full Europa Oil & Gas profile here
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Europa Oil and Gas plans more substantial perforation on Hykeham-1Z

11th Mar 2010, 4:34 pm

Europa Oil & Gas (AIM: EOG) has updated investors on the testing of the Hykeham-1Z well, which was drilled on the PEDL150 license, a short distance from the Whisby Field in the UK. After conducting a casing pressure test yesterday, the company has confirmed that the original perforation charges failed to penetrate the well casing, and therefore there is currently no connection to the reservoir.

“Despite the highly unusual situation, this is quite a satisfying result that confirms what the mounting evidence has been suggesting: that the original perforations failed and that this well remains to be tested. We continue to be confident that this well will provide us with a gratifying result in due course”, Europa MD Paul Barrett commented.

Europa said that since running perforating guns over the 4m of Basal Sandstone in February, its operations have concentrated on lifting the reservoir fluids, without success. Yesterday the company conducting a casing pressure test to approximately 4,000psi without leaking-off. Europa also noted that earlier pressure readings on the tubing head indicate a leaking packer.

The company conclude therefore that the Hykeham-1Z well remains completely untested. Subsequently the forward programme on the well will involve perforating the pay interval with more substantial perforating guns, likely to be run on tubing. Europa said that planning the program will take around 2 weeks.

Perforation helps create a hole in the sealed cement well-bore casing and into the hydrocarbon formation to form a channel for the oil/ gas to easily flow from the producing formation into the wellbore. Typically the final stage of cased oil well completion involves running perforating guns, which are essentially a series of explosive charges varying in size and shape, down to the desired location and firing them to perforate the well-bore casing and accordingly connect the well to the oil reservoir.

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