Proactive Investors - Run By Investors For Investors

Europa Oil & Gas now expects Holmwood drilling in 2018 as Surrey defers decision

The Holmwood project is targeting a conventional oil prospect but will also gather information on the Kimmeridge oil play in this location.
oil and gas operations
The county council, however, approved an application to install a security fence for Holmwood drill site.

Europa Oil & Gas (Holdings) Plc (LON:EOG) anticipates that the start of drilling at the Holmwood well will be delayed into the first half of 2018 after Surrey County Council deferred its decision due to a traffic management scheme attached to the project.

The council has asked for additional information. Europa, which operates Holmwood, said it will consult with its joint venture partners and advisers in order to respond to the council’s request.

READ: UKOG shares rise as Surrey County Council green lights new Horse Hill programme

The county council, however, approved an application to install a security fence for Holmwood drill site.

Europa owns a 20% stake in the Holmwood project, which is targeting a conventional oil prospect but will also gather information on the Kimmeridge oil play in this area.

READ: US$1.2bn Corrib stake sale is “very exciting” news for Europa Oil & Gas - analyst

Earlier this week,  UK Oil and Gas Investments PLC (LON:UKOG) and partners secured planning approval from Surrey County Council for a new programme at the Horse Hill project - including one new well, one side-track and extended production testing.

UKOG owns a 30% stake in Holmwood alongside Europa, and the other partners include Edgdon Resources Plc (LON:EDR) with 18.4%, Angus Energy Plc (LON:ANGS) with 12.5%, Warwick Energy with 10%, Union Jack Oil PLC (LON:UJO) with 7.5% and Altwood Petroleum with 1.6%.

View full EOG profile View Profile

Europa Oil & Gas (Holdings) Plc Timeline

Related Articles

picture of oil rig
September 26 2017
The two wells drilled recently at Coora 1 chipped in an average 202 barrels
picture of oil field
June 26 2017
“Ntorya-3 is ready to go but want to make sure, we maximise as many targets as we possibly can.”
Offshore oil operations, North Sea
October 09 2017
Statoil sees between 25mln and 130mln barrels of oil in the new discovery which was unearthed in the side-track to the previously unsuccessful Verbier exploration well.

No investment advice

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

© Proactive Investors 2018

Proactive Investor UK Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use