The well is located in the PEDL150 licence, southwest of Lincolnshire, UK, where Europa holds a 75% working interest.
Live oil was encountered at the shakers during drilling and on the drillstring during preparations for logging. Wireline log analysis indicates that approximately 4m net thickness of Basal Sandstone is oil-bearing and the well will be completed in preparation for production testing.
The Basal Sandstone unit calculating as oil pay is directly analogous to the producing interval in the nearby Whisby Field, which has produced some 700,000 barrels of oil to date.
The forward programme is to run and cement casing, then demobilise the drilling unit. Following installation of temporary production equipment, the zone will be perforated and an extended well test will be performed. This is expected to commence in January next year.
Paul Barrett, managing director of Europa, said: “This is certainly exciting news and we look forward to testing this zone that will hopefully contribute strongly to reaching our near-term production level target of 500bopd.”
