I have added Europa Oil and Gas as a speculative punt ahead of the Competent Persons Report (CPR) due out this half in two parts, firstly covering the on the Irish portfolio and part 2 updating the UK and French portfolios will follow including the results of Wressle testing and Kiln Lane drilling. The two Irish licences FEL 2/13 and FEL 3/13 was reported within the recent prospect inventory as showing a combined gross mean un-risked prospective resources of 1.5 billion barrels of oil.

The Wressle well onshore UK looks a like it's a good one and will now be going onto a pumped production test, with 33% of the production Europa Oil and Gas could benefit considerably. Europa has also been biding in the 14th onshore UK licensing round and these results will become known following the General Election.

At £14m market cap with £3.6m cash and current production covering the overheads, it's a fair speculative punt for me with quite a bit of news due over the next few weeks/months, especially the CPR report and Wressle test.

Interim Results

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