Stock Market News
Europa Oil & Gas says UK oilfield may hold shale gas
13-01-2014 16:39
Add To Google +1 | Tweet |
Europa Oil & Gas has won extra time for an oil exploration project in the UK's East Midlands that could hold shale gas.
Europa, which has operations off the coast of Ireland and onshore activities in France and the UK, said Britain's Department of Energy & Climate Change had extended its phase one PEDL 181 licence in east Lincolnshire for a year until June 2015.
It will allow Europa, which owns half of the licence, to drill the Kiln Lane-1 well there in the second half of 2014.
PEDL 181, which is close to licences that French oil giant Total has farmed into for shale gas drilling, may also hold shale gas, Europa added.
Chief Executive Hugh Mackay said: "The board considers the licence has good potential for conventional oil and gas and is also aware that the area may have potential as a shale gas resource."
Europa also has a 33% interest in drilling the Wressle prospect in the East Midlands Petroleum Province, where operator Egdon Resources expects to begin operations in the first three months of 2014.
Europa's shares closed 0.12p up at 6.25p in London.
PW
Europa, which has operations off the coast of Ireland and onshore activities in France and the UK, said Britain's Department of Energy & Climate Change had extended its phase one PEDL 181 licence in east Lincolnshire for a year until June 2015.
It will allow Europa, which owns half of the licence, to drill the Kiln Lane-1 well there in the second half of 2014.
PEDL 181, which is close to licences that French oil giant Total has farmed into for shale gas drilling, may also hold shale gas, Europa added.
Chief Executive Hugh Mackay said: "The board considers the licence has good potential for conventional oil and gas and is also aware that the area may have potential as a shale gas resource."
Europa also has a 33% interest in drilling the Wressle prospect in the East Midlands Petroleum Province, where operator Egdon Resources expects to begin operations in the first three months of 2014.
Europa's shares closed 0.12p up at 6.25p in London.
PW
Related share prices |
---|
Egdon Resources (EDR) share price |
Europa Oil & Gas (Holdings) (EOG) share price |
Stock News is provided by Digital Look Corporate Solutions from Sharecast news. Please read the terms and conditions of useage of this data. Republication or redistribution of content, including by caching, framing or similar means, is expressly prohibited without the prior written consent of Digital Look Ltd.
Get a free widget for your website with our latest headlines.
You can now add our live prices and new headlines to your website.The news widget features quotes for Oil prices, spot Gold price and Indices plus a choice of news channel for healines.
Top Shares pages
- Share price quotes
- Share charts
- Share watch list
- Company Results Calendar
- Top Large UK Shares
- UK Market Sectors
- Stock market news
- Company news
- Share tips
- A-Z company search
More share features
POPULAR Share Prices
- Royal Mail share price
- Lloyds share price
- HSBC share price
- Barclays share price
- Prudential share price
- Santander share price
- RBS share price
- Diageo share price
- Standard Life Share Price
- BP share price
- Vodafone share price
- British Airways
- Centrica share price
- Tesco share price
- Taylor Wimpey Share Price
- National Grid
- GKP Share Price
- Marks and Spencer
- Rolls Royce
- Rio Tinto
- Morrisons Share Price
- Aviva Share Price
- LGO Share price
- Tullow Oil Share Price
- SXX Share Price
- Easyjet Share Price
- Next Share Price
- Thomas Cook Share Price
- SSE Share Price
- IAG Share Price
- Bat share price
- Monitise Share Price
- Kingfisher share price
- Dragon Oil share price
- UKOG share price
- SOLG share price