Europa Oil and Gas is actively farming out interest in Frontier Exploration Licence (FEL) 1/17, FEL 2/13 and FEL 3/13 which are estimated to hold gross mean un-risked resources of 4.3 Bboe. In February 2019 Europa announced it was negotiating farm-in agreements with a major oil and gas company regarding licences LO 16/20, FEL 1/17 & FEL 3/13. Europa will make an update in due course regarding the farm-in progress.  On 5 June 2018, Europa announced it has increased its resource estimates in FEL 3/13 from 1.5 to 2.9 Bboe. The increase in resource estimate was attained through the completion of PSDM reprocessing of the 3D seismic that was originally acquired in 2013Â over FEL 1/17, FEL 2/13 and FEL 3/13. The updated prospect inventory containing the prospects Beckett (1719 MMboe), Shaw (747 MMboe) and Wilde (1082 MMboe) have a combined gross mean un-risked prospective resource of 2.9 Bboe. Beckett and Shaw were previously described as âsingle cycle eventsâ but are now interpreted as a fan sequence comprising of multiple fan cycles (250 â 325 m gross). The company has gained further confidence to increase its prediction of the sandstone thickness which might be present in the Wilde prospect. The reprocessed seismic has allowed Europa to interpret the internal architecture of the fan and provide evidence for a fault which supports the case for up-dip seal.  On 12 July 2018, Europa announced marked improvement in seismic quality and a substantial de-risking of the prospect inventory for FELâs 1/17 and 2/13. FEL 1/17 contains two pre-rift prospects, Edgeworth and Ervine and a syn-rift target, Egerton which have gross un-risked prospective resources of 854 MMboe. Egerton is interpreted to be analogous to the Bay du Nord discovery on the conjugate margin, offshore Newfoundland. FEL 2/13 contains two pre-rift prospects Kiely East and Keily West and one Cretaceous target, Kilroy which have gross mean un-risked resources of 817 MMboe.  Interest in FEL1/17, FEL 2/13 and FEL 3/13 is held by Europa Oil and Gas (Holdings) plc 100%.    For further information regarding the Farm-out opportunity please contact:  Murray Johnson  Email: murray.johnson@europaoil.com
Europa Oil and Gas is actively farming out interest in Frontier Exploration Licence (FEL) 1/17, FEL 2/13 and FEL 3/13 which are estimated to hold gross mean un-risked resources of 4.3 Bboe. In February 2019 Europa announced it was negotiating farm-in agreements with a major oil and gas company regarding licences LO 16/20, FEL 1/17 & FEL 3/13. Europa will make an update in due course regarding the farm-in progress. 