Europa Oil and Gas reports new prospects at Ireland-based site

Hydrocarbon producer and developer Europa Oil & Gas announced new prospects have been identified at one of its projects in Ireland.

Four prospects, all situated in the South Porcupine Basin, have been identified, two at the firm’s FEL 3/13 licence and two at the FEL 2/13 licence.

The two prospects at FEL 3/13, dubbed Becket and Wilde, have an estimate prospective resource of 760m and 493m barrels of oil respectively.

The remaining prospects, labelled Doyle A and Doyle B, have a gross unrisked prospective resource of 123m and 69m barrels of oil respectively.

"This is a significant step forward for our exploration in Ireland. The prospect inventory has been completed by Kosmos and the early promise shown on historic 2D seismic data has been vindicated by the prospects identified on the new 3D seismic," said group chief executive Hugh Mackay.

Europa shares were down 3.23% to 7.50p at 12:27 on Monday.