StockMarketWire.com - Europa Oil & Gas provided detailed technical information on the recently awarded licensing options (LO) 16/20 and 16/21.

Europa has a 100% interest in, and is operator of, seven licences in the Atlantic basins offshore Ireland including LO 16/20 and LO 16/21, which cover 945 km² and 832 km² respectively in the Greater Corrib play in the Slyne Basin and are near the producing Corrib gas field.

HIGHLIGHTS

- Several large gas leads identified across both LO 16/20 and LO 16/21 in the Greater Corrib area of the Slyne Basin - a hydrocarbon play proven by the Corrib gas field

- Gross mean un-risked prospective resources of 1 TCF identified in LO 16/20

- Gross mean un-risked indicative resources of 0.5 TCF identified in LO 16/21

- The Greater Corrib play comprises Triassic sandstone reservoirs in tilted fault block structures with hydrocarbons generated from Carboniferous source rocks

- Water depths range from 300-2,000m and the licences are already partially covered by historic 3D seismic data as well as extensive 2D seismic

- Strategy to expedite exploration by securing a farm-in partner(s) with which to reprocess historic 3D seismic over LO 16/20 and LO 16/21 and to mature leads to drillable prospect status




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