Europa Oil & Gas (Holdings) plc, the AIM traded UK, Ireland and Morocco-focused oil and gas exploration, development, and production company, is pleased to announce, further to its announcement of 30 May 2022,
That the Stena Don drilling rig is now on contract and that the rig is on location at Production Licence P.2358, Block 13/23c (“Serenity”). It is expected that the Stena Don will begin drilling operations on the SA-02 appraisal well at Serenity later this week, which is expected to last approximately 30 days.
Simon Oddie, CEO of Europa, said :
“We are pleased to announce the start of operations at Serenity where the well objective is to prove up additional volumes of hydrocarbons beyond those encountered in the original discovery well, which alone the Operator considers commercially viable. Serenity is a late-stage appraisal and development asset that provides our shareholders with exposure to a very exciting asset that could deliver significant value to our shareholders. This is an exciting time for Europa and I look forward to providing further updates in due course.”
Majid Shafiq, CEO of i3 Energy plc, commented:
“i3 is very pleased to have commenced the appraisal of the Serenity discovery. The well is designed to prove the extension of the reservoir to the west of the discovery well 13/23c-10 and so prove up additional hydrocarbon volumes in place. This will enable optimisation of any necessary further appraisal and a development plan for the field. Further updates will be provided in due course.”
i3 owns a 75% working interest in the field.
