|Europa interest||100% operator|
|Play||Cretaceous Fan, Pre-rift|
|Term||Phase 1 of 15 yr FEL|
The Cretaceous fan play is developed in FEL 3/13 which is located on the East flank of the Porcupine basin. A CPR by ERC Equipoise in May 2015 confirmed gross mean un-risked prospective resources of 1.49 billion boe. ERCE also identified an un-risked NPV10 of US$7 billion across three Cretaceous fan prospects on the licence
|FEL 3/13||Gross Prospective Resources Mmboe*|
|Prospect||Un-risked||Chance of success||1 in|
Prospect Wilde is considered drill ready with a geological chance of success of 1 in 5. The drill costs are estimated to be US$37 million excluding mobilisation and demobilisation.
In August 2016, phase 1 of FEL 3/13 (and FEL 2/13) was extended by one year to 4 July 2017. The extension will allow Europa to mature existing prospects and perform detailed mapping of all potential prospective levels on the licence, including the pre-rift, syn-rift and post-rift plays, whilst continuing to seek a farm-out partner for drilling.