.

http://www.proactiveinvestors.co.uk/companies/news/23088/europa-oil-gas-starts-construction-work-for-west-firsby-9-development-well-23088.html


Europa Oil & Gas (Holdings) PLC (LON:EOG) said construction work to prepare the new development well on the West Firsby field in Lincolnshire is scheduled to start this week, and it has signed a letter of intent with Geometric to use their HH102 rig.

Well cellar construction for West Firsby-9 will commence tomorrow and the tophole section is expected to be pre-drilled ahead of the arrival of the HH102 rig in December.

West Firsby-9 will be engineered as a 2,000 ft long near-horizontal producer with the reservoir expected to be encountered in a structurally high position on the field.

Managing director Paul Barrett said : We are looking forward very much to the drilling of this crestal well and the decision to drill a new well instead of a sidetrack greatly reduces technical risk and allows much more operational flexibility with respect to completion strategy. According to the expected timetable, the well should be on production early in the New Year.

In October, Europa raised 1.8 million to fund further drilling at the West Firsby and at Barchiz-1 in Romania, while also covering ongoing working capital requirements for the company's other prospects.

In September the explorer unveiled a major upgrade to the reserves in place at the West Firsby field, as detailed re-mapping had resulted in the P50 remaining reserves figure jumping by 250 per cent to 1.4 million barrels.

This assumes just a 7 per cent recovery factor on a total oil in place (STOIIP) of 20.6 million barrels.

Barrett commented in September: This review, commissioned in March this year, is the first comprehensive subsurface review of the West Firsby Field for some time and supports the management's view that the field holds significant unrecovered oil volumes.

The planned WF9 well therefore has two clear objectives: to significantly increase field production and access these additional Zone 1 reserves.
The West Firsby Oilfield is a producing oilfield located north of Lincoln in the East Midlands Petroleum Province.

The oil production is transported to the ConocoPhillips Immingham Refinery and sold at a small discount to Brent.

Both Barchiz-1 and Firsby will have a significant impact on EOG, although of course success at Barchiz will have a big impact as its a High Impact event and could easily see the share price triple overnight, Firsby offers steady income.

All allows much easier funding of the big projects in 2011 in France and again Romania.

Barchiz-1 results before end of this month IMO, and we know Firsby will be early in the new year for production.

Decent performance today so far.

Why have you started another thread ?.

So the header is up to date and not full of 2 year old out of date stuff..........

Also worth noting this comment from the recent results.

http://www.investegate.co.uk/Article.aspx?id=201010140700073626U

............In PEDL 143 in the Weald Basin, Europa and its partners continue to work to securing planning permission to drill the Holmwood-1 exploration well, south of Dorking. It is hoped permission will be granted late in 2010..............


Holmwood-1 will target prospective resources (net to EOG) of some 13 million barrels.

So getting planning permission might give us a boost and also that will slot Holmwood-1 into the drilling plans for 2011 to give yet more "high impact" stuff going on.

Another nice update.

http://www.investegate.co.uk/Article.aspx?id=20101122070000P7F10

Europa Oil & Gas (Holdings
Production Operations Update

22 November 2010

Europa Oil & Gas (Holdings) plc

Production Operations Update

The Directors of Europa Oil & Gas (Holdings) plc are pleased to provide an update on production operations in the East Midlands. The workover on West Firsby-6 is now complete and the well is back on jet pumped production. It may take a short time for reservoir drawdown, and thus production, to reach a stable maximum. All 5 of Europa's production wells are onstream.

A key element of the company's continuing revenue growth strategy is the drilling of a new production well on West Firsby which, as previously announced, is planned to commence in December.

Paul Barrett, Managing Director, said `It is very satisfying to have all our production wells back onstream and we can now concentrate on delivering a new production well on West Firsby in the next two months or so. We expect to see further significant production growth in early 2011.'

Barchiz-1 news could pop out at any time.

Although I estimate from Mon 29th onwards it could be this week, all depends on drilling progress and any hiccups or not.

Potentially transformational news for little old EOG.


http://www.investegate.co.uk/Article.aspx?id=20101125070000P36B4

Thursday 25 November, 2010
Europa Oil & Gas (Holdings
Barchiz Test Plans

25th November 2010

Europa Oil & Gas (Holdings) plc

Barchiz Test Programme

The Directors of Europa Oil & Gas (Holdings) plc are pleased to provide an update on drilling results from the Barchiz-1 exploration well in Romania.

The well has now reached a final total depth of 1,450m and is being prepared for testing. Oligocene sandstone reservoirs similar to those seen in the nearby Geamana Field were encountered in the interval between 520 and 580m. These presented live oil shows and the wireline logs calculate potential oil pay of
up to 20m net thickness. The Operator, MND, is recommending two drillstem test intervals: 522.5 - 531m and 548 - 558.5 m.

Paul Barrett, Managing Director, said "Clearly we are extremely encouraged by
this result and look forward to seeing the flow test results in the coming
weeks."

Further information:

Europa Oil & Gas

Paul Barrett / Phil Greenhalgh Tel: +44 1235 553 266

finnCap

Sarah Wharry / Henrik Persson, Corporate Finance Tel: +44 207 220 0567
Joanna Weaving, Corporate Broking Tel: +44 207 600 1658

There are 5 more follow on leads which now, very likely one could say, also have around 20m of net pay in them all as well, maybe more, maybe less.

The P10 for this one net to EOG is over 6 million barrels, however, with the follow on leads there could be anything up to well over 50m barrels net to EOG.

All of it now much more derisked than before, 1 of 6 with oil now derisks the remaining 5 to be drilled next year.

Roll on DST news.

Pretty transformational for a 15m market cap company with UK production and high impact Romanian and French projects to come.

Good news.....30p ?...plus ....perhaps...close to 50p.....with a good flow test...

http://www.proactiveinvestors.co.uk/companies/news/23329/europa-oil-gas-barchiz-1-exploration-well-hits-target-depth-being-prepared-for-testing-23329.html


Europa Oil & Gas (Holdings) PLC (LON:EOG) reported that the Barchiz-1 exploration well in Romania final total depth of 1,450m and is being prepared for testing.

The well encountered oligocene sandstone reservoirs similar to those seen in the nearby Geamana field in the interval between 520 and 580 metres.

These presented live oil shows and the wireline logs calculate potential oil pay of up to 20 metres net thickness.

Managing director Paul Barrett said: "Clearly we are extremely encouraged by this result and look forward to seeing the flow test results in the coming weeks."

The group reported a fortnight ago that the initial results from Barchiz-1, which was spudded on 18 October, were encouraging, giving evidence of an active petroleum system in the area with minor oil shows and mud gas indications encountered between 268 and 275 metres.

The Barchiz prospect is 10 kilometres from, and on trend with, the Geamana oilfield with 50 million barrels of oil (mmbo) reserves. The pre-drill oil-in-place estimate for Barchiz is up to 94 mmbo and there are five additional leads on-block in the same structural play which will be significantly upgraded by success at Barchiz.

Europa said earlier this week that the work-over on West Firsby-6 oil well in Lincolnshire is now complete and it is now back in production, meaning that all five of the companys production wells there are on-stream.

Over 30p with a good flow test........ perhaps over 40p with a good flow test....

Couple of weeks to next news, unless of cause Firsby spuds next week.......

Yes...50p is too much....but later on it might be achieved...

..............The Barchiz prospect is 10 kilometres from, and on trend with, the Geamana oilfield with 50 million barrels of oil (mmbo) reserves. The pre-drill oil-in-place estimate for Barchiz is up to 94 mmbo and there are five additional leads on-block in the same structural play which will be significantly upgraded by success at Barchiz............



So P10 is 94 MMBO of oil in place, take a recovery factor of 40% and you get up to 37 MMBO recoverable.

Then split the 37 MMBO recoverable between the partners.......

For a sub 20m market cap company like EOG its potentially very high impact, as is noted in the header.

As far as I can find out from asking a few people, the formation was found much higher than anticipated, however MNP wanted to go all the way to TD to get the full data set on the geology.

MNP prevented EOG from making any announcement with reference to the find below 664M as they wanted the news suppressed until after TD had been reached.

Thats why no reference was made to having hit the pay early on, until after TD, as EOG are the minor partner and MNP controls the news and EOG have to toe the line.

Bugger eh.... been sat on an oil find for a couple of weeks and we did not know.....

As ever, IMO and DYOR

Oil discovered....this is looking good....

tread carefully .... just picked up on reuters ..... Upper dst on the barchiz-1 well has recovered crude oil * Sample was contaminated, the operator is planning to re-run the dst

Sp...rising rapidly.....not their only asset....

Yes cynic but other then that quite a positive rns,and retesting in next couple of days..