Europa Oil & Gas has renewed its Béarn des Gaves permit in the proven Aquitaine basin in south-western France.
The permit includes the large gas appraisal prospect Berenx Deep and the recently identified Berenx shallow prospect. The company has renewed the permit for a period of five years with farm-out processes to recommence immediately with a view to drill in 2014.
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Europa Oil & Gas CEO Hugh Mackay said that over the last twelve months the company has undertaken a thorough re-evaluation of the shallow structures, reservoir distribution and historic well results to understand the permit’s prospectivity.
"The resulting definition of gross mean un-risked resources of 416 billion cubic feet (bcf) for Berenx Shallow, and the already discovered Berenx Deep appraisal project with an estimated gross mean contingent resource of 277bcf (ERC Equipoise CPR dated 31 May 2012) confirms the transformative potential of this 100% owned Permit," Mackay added.
The company, which also owns a 15% interest in two high impact frontier licences in the Irish Atlantic Margin, has a 100% interest in the Béarn des Gaves permit with both appraisal and exploration potential in the Aquitaine basin.
The Berenx Deep appraisal project has previously been explored and drilled by EssoRep with two wells drilled, Berenx-1 in 1969 and Berenx-2 in 1972, both of which discovered gas shows over a 500m thick gas bearing zone.
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By GlobalDataAccording to Europa Oil’s in-house technical work, the Berenx deep appraisal prospect could hold in excess of 500bcf of recoverable gas resources.
Europa Oil submitted its application for the renewal of Béarn des Gaves in November 2011 and the process formally started on 22 March 2012.
Image: Europa Oil will commence farm-out process for the permit with a view to drill in 2014. Photo: courtesy of Guitar guy.
