Estimated to have mean recoverable resources of 2.9 million barrels of oil, the Kiln Lane well is located approximately 25km east of both Europa’s Crosby Warren field and the Egdon-operated Wressle-1 oil discovery in PEDL 180.
Scheduled to be drilled to a total depth of approximately 2,500m in 36 days, the well is expected to encounter a number of prospective Upper Carboniferous age sandstone reservoirs in a structurally favourable position near the crest of the structure.
Europa CEO Hugh Mackay said: "We are delighted to commence operations on the Kiln Kane conventional oil prospect and we look forward to updating shareholders with the results from this well towards the end of March.
"We are encouraged by the recent discovery of oil at the neighbouring Wressle well and we hope that Kiln Lane will be similarly successful and provide another opportunity to build on our existing oil production and revenues from conventional oil fields in the East Midlands Petroleum Province."
Europa operates the PEDL 181 license with a 50% interest while Egdon Resources and Celtique Energie Petroleum own a 25% interest respectively.
The license is spread in an area of over 540km2 in the East Midlands Petroleum Province.
