EGN - Europa Oil & Gas CEO upbeat on prospects for Inishkea West
(NewsDirect)
Europa Oil & Gas (Holdings) PLC(AIM:EOG) CEO William Holland speaks to Thomas Warner from Proactiveafter the UK and Ireland-focused oil and gas exploration anddevelopment company announced an increase in the estimated gasresource for its Inishkea West project, offshore CountyMayo.
Holland explains the significance of the news, whichresulted from the reprocessing of existing seismic data at the siteusing full waveform inversion and reverse time migration techniques upto 20Hz. The decision to process the same data up to 30Hz means thatEuropa must now apply for an extension to its licence for the site,which Holland says will give it time to process the data and then tofind a farm-in partner. He says that the key point is that thereprocessed data has changed the wider Inishkea Project for thebetter, giving it "better risk, better economics, cheaper wells -what's not to like?"
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