LO 16/2

 

Licence LO 16/2
Europa interest 100% (operator)
Partners -
Area km2 523
Basin South Porcupine
Play Cretaceous Shelf, Syn-rift, Pre-rift
Term 2 year Licensing Option

 

LO 16/2 adjoins the eastern boundary of FEL 3/13 on the east flank of the Porcupine basin. Three new Pre-rift prospects with combined gross mean un-risked prospective resources of 1,010 million boe have been identified on LO 16/2 which is 100% owned by Europa. The three new prospects were mapped on Europa’s proprietary 3D seismic which was acquired in 2013 and covers both FEL 3/13 and LO 16/2. Resources and risks for PR1 and PR2 have been identified in a CPR by ERC Equipoise and those for PR3 are Europa’s in-house work.

 

LO 16/2 Gross Prospective Resources million boe
Prospect Un-risked Chance of success 1 in
Low Best High Mean
PR1 24 117 579 251 12% 8.0
PR2 39 162 675 302 15% 6.9
PR3 102 349 950 457 7% 13.8
Total  165 628 2204  1010    

 

There is clear technical and commercial synergy between LO 16/2 and FEL 3/13. The one year extension for FEL 3/13 phase 1 enables completion of technical work and integration with LO 16/2.

Ireland