Europa Oil and Gas plc is offering interested parties to farm-in to Licence Option (LO) 16/22. Europa has interpreted good quality 2D seismic data which was acquired in 1998. The presence of structures of a significant size and multiple leads in both pre-rift and syn-rift hydrocarbon plays have been mapped in water depths ranging from 800 to 2,000 m. Europa is currently focused on maturing the leads to a drillable prospect status by utilising the historic 2D seismic data and wealth of high quality technical work previously carried out by major oil companies. Gross mean unrisked indicative resources are estimated to be in the range of 300 to 600 MMboe. A farm-in partner is being sought with whom to drill an exploration well. As of October 2019 it was confirmed that Europa's work programme was ongoing (reprocessing 2D data) and the opportunity was still available.   LO 16/22 is located in the Padraig basin which is a remnant Jurassic basin on the eastern margin of the Rockall Trough. The most relevant analogue for the Padraig is the conjugate margin play offshore Newfoundland in the Flemish Pass basin which was opened up Equinorâs play-making Bay du Nord oil discovery. Geochemical analysis of the oil extracted from drop cores in LO 16/22 have identified bisnorhopane biomarkers that indicate the presence of oil mature Jurassic (Kimmeridgian) source rocks. This geochemical study has proved the existence of a working hydrocarbon system and provides evidence that the Jurassic syn-rift stratigraphy is present and endorses the potential for a Flemish Pass style syn-rift play. Furthermore, the study suggests that the Padraig petroleum system shares the same source rocks as the Dooish oil discovery in the Rockall basin and the West of Shetland oil fields (Schiehalion, Clare and Lancaster) rather than the Porcupine basin source rock.   LO 16/22 was awarded to Europa in July 2016 after a successful application in the 2015 Atlantic Margin Licensing Round. Europa were the most successful company in the round acquiring five new licences.   Interest in LO 16/22 is held solely by Europa Oil and Gas Ltd.  Murray Johnson  Email: murray.johnson@europaoil.com
Europa Oil and Gas plc is offering interested parties to farm-in to Licence Option (LO) 16/22. Europa has interpreted good quality 2D seismic data which was acquired in 1998. The presence of structures of a significant size and multiple leads in both pre-rift and syn-rift hydrocarbon plays have been mapped in water depths ranging from 800 to 2,000 m.