Europa Oil & Gas Holdings Plc (LON:EOG) has detailed its exploration prospects in a particular exploration area offshore Ireland.
A brief statement, highlighting an ERC Equipoise competent persons report from 2015, puts Frontier Exploration Licence (FEL) 3/13 in the shop window ahead of an industry event in Dublin next week.
“The board would be pleased to meet interested parties in Dublin to discuss insights and opportunities arising from the company’s Atlantic Ireland portfolio,” Europa said in a stock market statement.
The company told investors that the Wilde prospect, in FEL 3/13, is considered ‘drill ready’ and is estimated to host some 428mln barrels of potential resources. It noted that the well would cost just US$37mln and has a 1/5.3 chance of success.
Europa added that a well on Wilde would be positioned so that it would also penetrate the edge of the potentially larger Beckett prospect – with a view to returning new insights into the 728mln barrel prospect.
The explorer unveiled the ERC Equipoise report last May, the report detailed some 1.5bn barrels of possible resources in FEL 3/13.