Europa Oil & Gas buys Edge licence offshore Ireland

first_imgSimon Oddie, interim CEO and executive chairman of Europa, said: “We are confident that by adding FEL 3/19 to our portfolio we have not only increased the quantum of gross prospective gas resources to 2.7 tcf but have also increased the attractiveness of what was already a compelling investment proposition in the Slyne Basin. “With gas set to play a key role in Ireland’s energy mix and our licences located near Corrib and its processing infrastructure, our position benefits from having a highly attractive risk/reward profile. With this in mind, we look forward to showcasing our new position to prospective partners, a number of whom we have been talking to for some time. Exploration and production company Europa Oil & Gas has acquired a 100 per cent interest in Frontier Exploration Licence (FEL) 3/19 offshore Ireland from Norwegian oil company DNO. It is worthnoting that all work commitments on FEL 3/19 have been fulfilled and, subjectto regulatory approval, Europa’s forward plan will be to include FEL 3/19 in arelaunch of the farm-out of its strategic position in the Slyne Basin. “Together with ongoing work on the ground to bring the Wressle field in Lincolnshire into production in H2 2020 at an initial gross rate of 500bopd […] we are well placed to advance our portfolio of licences up the development curve and in the process generate value for our shareholders”. Europa isacquiring a 100 per cent interest in the licence from DNO for a nominal upfrontfee and the granting of a 5 per cent net profits Interest over futureproduction of gas and liquids from any accumulation on the licence. “Both Edge and Inishkea are viewed as being drill-ready and our aim will be to secure a partner or partners to fund drilling activity on one or both licences at the earliest opportunity. The companyadded that the inventory included the nearby 1.5 tcf Inishkea prospect onEuropa’s 100 per cent-owned FEL 4/19. center_img To remind, the acquisition of this license comes several months after Europa relinquished its interest in another Irish offshore licence – Licensing Option (LO) 16/19. According toEuropa, the acquisition will provide the company with a proven gas play which isin line with the refocusing of the Irish portfolio towards gas. FEL 3/19, which lies 18 kilometres east of the producing Corrib field, was formerly the LO 16/23 block which DNO acquired following the Faroe Petroleum buy. The newlicence lies close to Europa’s FEL 4/19, and since both are near Corrib andassociated gas processing infrastructure, the company classifies the twolicences as lower risk “infrastructure-led” exploration. Europa saidon Thursday that acquiring FEL 3/19, which is located close to the 1tcfproducing Corrib gas field in the Slyne basin, would add the 1.2 tcf Edgeprospect to Europa’s inventory in Ireland. A few weeks before this, Europa took a blow regarding its farm-out hopes. Namely, an unnamed oil major gave up on farming into its licenses off Ireland. In doing so, the company was forced to continue its search for a partner to drill its Inishkea prospect.last_img read more

Texans’ Justin Reid escapes serious injury in wreck with drunken driver

first_imgMakes me think about the Cam Newton crash from a couple of years ago. Scary stuff. Make good decisions out there on the rod!— Justin Reid (@jreid_viii) July 21, 2019Road*— Justin Reid (@jreid_viii) July 21, 2019Reid, 22, was selected out of Stanford in the third round of the 2018 draft. He had 70 solo tackles, one forced fumble, three interceptions and 10 pass deflections as a rookie last season. Dolphins waive Kendrick Norton after arm amputation, will still pay full salary Justin Reid escaped serious injury Saturday night despite a car accident involving a drunk driver.The Texans’ second-year safety said on Twitter he had only suffered “a few bruises” after being rear-ended. Sony Michel among 5 Patriots to open camp on PUP list, reports saycenter_img As some of you know, I was involved in an accident last night from being hit from behind by a drunk driver. Thankfully aside from a few bruises, nobody involved was seriously injured 🙏🏾— Justin Reid (@jreid_viii) July 21, 2019″As some of you know, I was involved in an accident last night from being hit from behind by a drunk driver,” Reid wrote. “Thankfully aside from a few bruises, nobody involved was seriously injured.”Reid encouraged drivers to “make good decisions” as he recalled the car accident Panthers quarterback Cam Newton was involved in back in December 2014 that left him with two transverse fractures in his lower back. Related News Texans stars J.J. Watt, DeAndre Hopkins begin training camp on PUP listlast_img read more

Russian bans to hurt Greek producers

first_imgThe Russian government has banned all imports of meat, fish, milk and milk products and fruit and vegetables from the United States, the European Union, Australia, Canada and Norway, Prime Minister Dmitry Medvedev announced this week. Greece is expected to lose 180 million euros if Russia goes ahead with the announced one-year ban on food imports from the European Union but Athens was hopeful that a number of local products would be exempted from the embargo.“We are making a constant effort to ensure that we only suffer the smallest possible consequences, even none at all, if possible,” said Foreign Minister Evangelos Venizelos.According to the Greek daily Kathimerini, Russian diplomatic sources have given verbal assurances that many Greek products would be left off the list of imports that Russia will ban when it provides a final list in the days to come.Sources at the Greek Foreign Ministry believe that Moscow recognises Greece has attempted to dissuade the EU from taking tough action against Russia as the dispute over Ukraine intensifies. Athens also thinks that its decision to assist Russian tourists stranded after two travel agencies went into bankruptcy was appreciated by Russian authorities.“I do not want to discuss the process we are involved in,” said Venizelos. “As a European Union country, committed to its community obligations, we try to have the best relations with all countries and protect Greek agricultural production.”Russia is by far the biggest consumer of EU fruit and vegetables and a major global consumer of fish, meat and dairy products.In 2013 Greek exports to Russia were worth a total of 178 million euros. However, they have already suffered a dip this year. According to the Panhellenic Exporters Association, the value of Greek exports to Russia was down 23.9 per cent in the first quarter of this year compared to 2013, falling from 82.9 million euros to 63 million.If the embargo goes ahead it will have a significant effect on some areas of Greece, such as the peach-producing areas of Pella and Imathia. Around half of the fruit produced in these areas is exported to Russia.Source: ekathimerini Facebook Twitter: @NeosKosmos Instagramlast_img read more