##Europa Oil and Gas (AIM:EOG) are an ambitious AIM listed Oil & gas developer and explorer with an exceptionally strong portfolio of gas and oil assets, onshore and offshore.
We caught up with the Europa CEO Simon Oddie and he talked us through the Serenity appraisal well which Europa have just taken a 25% farm in on, and he gave us a detailed operational update on the most active areas of the portfolio. If you are an oil and gas investor and haven’t come across Europa Oil & Gas before, this company is well worth researching as not only does it have a varied asset base but ‘it has a small but perfectly formed management and technical team’ according to Simon.
Europa sees value being driven by the 25% stake in Serenity, a field in the Outer Moray Firth which is due to spud in early September, and the development plan for Wressle where Europa have a 30% stake, which is very current and being worked on right now.
“We have the Serenity spud coming up in the very early days of September and the rig booked to do that looks to be on track and we have some exciting news flow leading up to and around the spud” said Simon.
Europa are producing around 300 bopd, mainly from Wressle, which covers working capital and gives them a nice financial buffer.
#EOG have various other assets, including a gas licence offshore Ireland next door to Corrib, the prolific Irish gas field. This has 1.5 TCF potential, can be tied back to Corrib subsea and is ‘sufficient to supply Ireland’s gas needs for 17 years’. Europa are extending the licence and once that’s done will be actively seeking a farm in partner
Morocco is known for onshore gas, however EOG believe Morocco has the potential for offshore oil. They hold 75% of an offshore licence where a hydrocarbon system has been proved but a reservoir has yet to be found. A farm out process is underway there.
#EOG #Europa #I3G #I3Energy #Oil #Gas #Serenity #Spud #Appraisal #Corrib #Wressle #Morocco