Europa Oil & Gas (Holdings) plc, the UK and Ireland focused oil and gas exploration, development and production company, announced that the Irish Government has approved the Company’s application for a 12 month extension to the First Phase of Frontier Exploration Licence 2/13 (‘FEL 2/13’) to 4 July 2020. Europa has a 100% interest in FEL 2/13 which is located on the west flank of the South Porcupine basin and includes the Kiely prospects and the Doyle Cretaceous channel complex. The 280 million barrel Kiely East prospect is the top ranked prospect on the Licence.
EOG assets offshore Ireland (Map source: KeyFacts Energy)
The next steps for the Licence include integration of recently purchased CREAN 3D seismic data with particular focus on mapping the extension of Kiely East into open acreage to the south of the Licence. A site survey application for a drilling location on Kiely East is in process. FEL 2/13 is one of six offshore Ireland licences held by Europa which potentially hold gross mean un-risked prospective resources of 6.4 billion barrels oil equivalent and 1.5 tcf gas.
Europa's CEO, Hugh Mackay, said:
“Today’s extension enables us to press on with preparations to drill an exploration well to test the 280 million barrel Kiely East prospect on FEL 2/13. Kiely East is just one of a number of priority targets we have identified across our portfolio of six offshore Ireland licences which, subject to securing farm-out partners and relevant regulatory permissions, we are looking to drill at the earliest opportunity. With this in mind, we are focused on proving up the company-making resources we have identified across multiple play types and basins on our offshore Ireland licences. I look forward to providing further updates on our progress, not just at FEL 2/13, but across our multistage portfolio of licences in Ireland and onshore UK.”