Europa points to Berenx Deep potential

Aiming for Aquitaine: Europa Oil & Gas seeking partner for Berenx Deep prospect

Europa Oil & Gas

 01 June 2012 08:40 GMT

UK-listed junior Europa Oil & Gas has said a fresh evaluation pointing to 46.1 million equivalent barrels in net contingent gas resources at Berenx Deep backs its view of the French play as a potential “company-maker”.

The AIM-listed outfit said that the new competent person’s report by ERC Equipoise estimated the Aquitaine basin play held 2C resources of 134 billion cubic feet, or a mean estimate of 277 billion cubic feet of gas.

Chief executive Hugh Mackay said the new figures would “play a key role in our ongoing negotiations with potential partners” for the French licence, where it is hoping to pick up at least one venture partner before drilling next year.

Europa Oil & Gas currently holds 100% of the Bearn des Gaves licence containing Berenx Deep, which is 20 kilometres west of Total’s Lacq gas field in southwest France.

The competent person’s report also said Europa Oil & Gas’s three UK onshore prospects – Broughton, Wressle and Holmwood – contained 3.7 million barrels in net mean unrisked prospective oil resources.

The explorer’s three producing fields onshore UK – West Firsby, Crosby Warren and Whisby – held 650,000 barrels in remaining net proven and probable oil reserves, ERC Equipoise said.