Aurelian and Europa 'delighted' by Romanian well

17th Nov 2009 09:49

Aurelian Oil and Europa Oil & Gas both improved Tuesday after testing at the Voitinel-1 well in Romania revealed between 50 and 100 billion cubic feet of gas in place.The pair said this estimate does not include any contribution from the 1400 sand, which it thinks is likely to be similarly productive. It will be flow tested in spring 2010 as part of the field appraisal."We are delighted with these latest test results from the shallower sections after the disappointment of the deeper Voitinel-1 target being dry," said Aurelian boss Rowen Bainbridge."We now have a commercial discovery and potentially significant upside in a new play across the Brodina block, enhancing the value of the Romanian business."Aurelian owns a 33.75% interest in the well, SNGN Romgaz has 37.5% and Europa Oil & Gas 28.75%. Europa has been in the news recently. It has started drilling the Hykeham-1 exploration well on the PEDL150 licence near Lincoln in the East Midlands.The well is due to drill down about 1,000 metres to test the potential for up to 20 million barrels of oil in two target horizons. But the potential oil reservoir lies beneath the 150 hectare Whisby Nature Park. It has "serious concerns" about the drilling, although Europa has promised to take measures to "mitigate against adverse effects".