Porcupine Basin Survey Indicates Gross, Unrisked, Prospective Resource Is 895 MMboe
Drilling Activity Details
Drilling Activity Summary
Description
In the southern part of offshore Ireland's Porcupine Basin, Europa Oil & Gas announced that three 3-D seismic mapped prospects indicate a gross, mean, unrisked prospective resource of 895 MMbboe in license area LO 16/2. In the area of interest, the company has identified three new pre-rift prospects that have been proven successful in offshore Newfoundland's Flemish Pass Basin. In addition, 1.5 Bboe of gross, mean, unrisked prospective resources were identified across three Cretaceous prospects on FEL 3/13 and 595 Mboe of gross, mean, unrisked prospective resources were identified across four prospects on FEL 2/13. Additional technical evaluation is planned, some government approvals have been awarded and license applications are being reviewed. The LO 16/2 comprises Blocks 54/3 and 54/8 and covers approximately 522 sq km, which adjoins the eastern boundary of Frontier Exploration License 3/13 (FEL 3/13) in which London-based Europa has a 100% interest.
In the southern part of offshore Ireland's Porcupine Basin, Europa Oil & Gas announced that three 3-D seismic mapped prospects indicate a gross, mean, unrisked prospective resource of 895 MMbboe in license area LO 16/2. In the area of interest, the company has identified three new pre-rift prospects that have been proven successful in offshore Newfoundland's Flemish Pass Basin. In addition, 1.5 Bboe of gross, mean, unrisked prospective resources were identified across three Cretaceous prospects on FEL 3/13 and 595 Mboe of gross, mean, unrisked prospective resources were identified across four prospects on FEL 2/13. Additional technical evaluation is planned, some government approvals have been awarded and license applications are being reviewed. The LO 16/2 comprises Blocks 54/3 and 54/8 and covers approximately 522 sq km, which adjoins the eastern boundary of Frontier Exploration License 3/13 (FEL 3/13) in which London-based Europa has a 100% interest.