TPI provides its latest research note on Europa Oil & Gas (Holdings) plc (EOG.L).

The Wressle oil field, in which Europa holds a 30% working interest, has achieved flow rates in excess of 950 boepd from the primary Ashover Grit reservoir.

This has been attained on a restricted choke setting and no formation water has been produced as the well continues to clean up. This is very positive news for the company given that the reported flow rate exceeds initially forecasted rates by a substantial margin and further operations to increase gas handling capacity could increase hydrocarbon flow rates further still.

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We would draw your attention to the various disclaimers in the document both at the beginning and at the end of the note. Retail clients (as defined by the rules of the FCA) must not rely on the research document. In particular you should note that the research document is a non-independent marketing communication. The analyst who has prepared the research is aware that TPI provides research to Europa Oil & Gas (Holdings) plc. Accordingly the research has not been prepared in accordance with legal requirements designed to promote the independence of investment research and is not subject to any prohibitions on dealing ahead of its dissemination.

The information in the document is published solely for information purposes and is not to be construed as a solicitation or an offer to buy or sell any securities or related financial instruments. The material contained in the document is general information intended for recipients who understand the risks associated with equity investment in smaller companies. It does not constitute a personal recommendation as defined by the FCA or take into account the particular investment objectives, financial situation or needs of individual investors nor provide any indication as to whether an investment, a course of action or the associated risks are suitable for the recipient.

Copyright © 2021 Turner Pope Investments (TPI) Limited, all rights reserved.

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