1 February 2021 7:53 GMT Updated 1 February 2021 7:53 GMT in London
UK junior Egdon Resources has started oil flows at the onshore Wressle oilfield in England, where first output had been expected last year.
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The field situated in North Lincolnshire licences PEDL 180 and 182 has been placed on continuous 24-hour test production after operations to recomplete the well and reperforate the Ashover Grit reservoir interval were completed.
Egdon and its partners are now in the regular well clean-up phase as the well is brought onstream.
Europa Oil and Gas provides operations update ahead of AGM
28 Jan 2021
Europa Oil & Gas, the UK, Ireland and Morocco focused oil and gas exploration, development and production company held its Annual General Meeting ( AGM ) on Jan 28th. At the meeting, Brian O Cathain, Chairman of Europa, made the following statement: In last year s AGM Statement, Simon Oddie set out how, subject to receipt of planning permission, the development of the Wressle oil field in North Lincolnshire promised to more than double Europa s existing production to over 200bopd. One year on and Wressle is on course to do just that. With planning permission granted and with operations at the site underway, the field is forecast to be brought online at an estimated initial gross rate of 500bopd shortly. Importantly, following a stress testing exercise of the field s economics in response to the lower oil price environment, production at Wressle, which has a breakeven oil price of below US$18 per barrel, wi
Europa Oil & Gas Enters GBP225,000 Loan Facility With Director
Wed, 20th Jan 2021 11:46
(Alliance News) - Europa Oil & Gas Holdings PLC on Wednesday announced it has entered into a GBP225,000 unsecured loan facility with Non-Executive Director William Ahlefeldt.
The UK, Ireland and Morocco focused oil and gas company said it has taken out the loan facility to increase its headroom to fund any cost overruns or funding shortfalls that may arise relating to the Wressle oil field development in North Lincolnshire, England. The loan facility has a four-month term and an interest rate of 13% per annum.
Shares in Europa Oil & Gas were up 13% at 1.52 pence in London on Wednesday.