Europa Oil & Gas CEO upbeat on prospects for Inishkea West
London, UK
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October 04, 2023 04:10 AM Eastern Daylight Time
Europa Oil & Gas (Holdings) PLC (AIM:EOG) CEO William Holland speaks to Thomas Warner from Proactive after the UK and Ireland-focused oil and gas exploration and development company announced an increase in the estimated gas resource for its Inishkea West project, offshore County Mayo.
Holland explains the significance of the news, which resulted from the reprocessing of existing seismic data at the site using full waveform inversion and reverse time migration techniques up to 20Hz. The decision to process the same data up to 30Hz means that Europa 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 to find a farm-in partner. He says that the key point is that the reprocessed data has changed the wider Inishkea Project for the better, giving it "better risk, better economics, cheaper wells - what's not to like?"
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