Egdon Resources plc (LON:EDR), the UK Energy Company, has noted the press release made this morning by Europa Oil and Gas (Holdings) plc in relation to the Cloughton gas discovery in PEDL343 where Egdon holds a 40% interest. The release from Europa stated the following:
“Europa Oil & Gas (Holdings) plc, the AIM traded UK and Ireland focused oil and gas exploration, development, and production company, is pleased to announce that it has completed a preliminary audit of the Cloughton gas in place volumes which has resulted in a Pmean GIIP of 192 BCF and a range as detailed in the following table.
|GIIP – BCF||118||184||192||274|
Note, it is only statistically correct to sum the Pmean volumes.
The discovery well at PEDL 343 (Cloughton) (in which Europa has a 40% interest) flowed good quality sweet gas at rates of up to 40,000 scf/day on natural flow and the Company believes that that a well could flow at 6 mmscf/day using the correct completion techniques.”