PROSPEX 2012 Prospects 2 Go Mullen prospect, LO 11/7 & Kiernan prospect, LO 11/8 Hugh Mackay Europa Oil & Gas www.europaoil.com 12th & 13th December 2012
Europa Oil & Gas plc is an AIM listed oil and gas exploration and production company with a significant portfolio of multi-stage hydrocarbon assets focussed on the UK, France and the Irish Atlantic Margin
Board of Directors Hugh Mackay Hugh Mackay, a geologist, joined Europa in 2011. He has a wealth of experience in the oil and gas sector, including eight years CEO at BP in a variety of roles in the UK, the Oman and Egypt, then at…
Portfolio Our portfolio has three core areas : UK, France and Ireland 1) UK - production and exploration low risk/modest reward 2) France - gas appraisal low risk/moderate reward 3) Ireland - frontier oil exploration high risk/high…
Three Core Areas
Portfolio Perspective
Location 200km South Porcupine Basin, virtually unexplored 100% equity in two licence options LO 11/7 and LO 11/8 Large Lower Cretaceous clastic prospects with amplitude support Proven play at Burren (North Porcupine), flowed…
Licence details 200km Two separate License Options LO 11/7 & LO 11/8 1000 km2 each 100% Europa License Option 1Nov 11 31 Oct 13 Apply for Frontier Exploration Licence Relinquish minimum 25% LO 11/7 15 years duration LO 11/7 1…
Porcupine Basin Water Depth (m) Burren Lower Cretaceous oil discovery 375 bopd Dunquin Middle Cretaceous Carbonate prospect 8.4 TCF + 316 MMBO drill Q1 2013 LO 11/7 Mullen Lower Cretaceous play Line of section 800m-1400m water…
South Porcupine Basin Cross Section NW SE Paleocene Play Dunquin play on PMVR Mullen Kiernan Aptian play Valanginian (West) play (East) Jurassic Pre-rift plays Jurassic Pre-rift plays PMVR: Porcupine Median…
Line PSB97-08 LO 11/7 Mullen Plays Paleocene Play Aptian Play Mullen Pre rift Jurassic Play Barremian Play 11/07 Seabed response Polarity : black peak decrease in acoustic impedance Data shown courtesy of TGS and…
Line PSB97-50 LO 11/8 Kiernan Plays Valinginian Play Pre rift Jurassic Plays Kiernan Seabed response 11/08 Polarity : black peak decrease in acoustic impedance Data shown courtesy of TGS and WesternGeco
Reservoir Lower Cretaceous sands of the Mullen (West) and Kiernan (East) prospects are deposited as deepwater turbidite channels Coincident with local uplift events on the basin margins 1. Kiernan (East) is fed by a Valanginian…
Base Cretaceous Depth map (m) Combined map of Late Cimmerian Unc. and PMVR structure. 35/30-1 Arrows indicate possible Lower Cretaceous sand provenance directions PMVR From Porcupine High in West From Munster basin (ORS) in…
Mullen Jurassic source maturity Top Jurassic maturity 35 My Top Jurassic maturity 0 My Mullen Mullen LO 11/7 LO 11/7
Mullen Cretaceous source maturity Lower Cretaceous maturity 35 My Lower Cretaceous maturity 0 My Mullen Mullen LO 11/7 LO 11/7
Sea Bed - Base Tertiary isopach (m) Tertiary isopach illustrates variable thickness of overburden between the north and south 2000m in South Porcupine vs up to 4000m in the North Porcupine As a consequence source rocks will be…
Mullen Aptian Depth Map (m) Strike Line Geological section P1 closure P50 closure P90 closure Dip Line Jurassic Play Fairway 43/13-1 LO 11/7
Geoseismic Sections: Mullen Dip Line W E MULLEN PROSPECT Barremian shales
Geoseismic Section: Mullen Dip Line W E MULLEN PROSPECT Mid Aptian Unconformity and correlative conformity Barremian shales
Geoseismic Section: Mullen Dip Line W E MULLEN PROSPECT Lateral/Updip pinch out of turbidite sandstone reservoir Mid Aptian Unconformity and correlative conformity Barremian shales Deposition of Mid-Late Aptian turbidite…
Geoseismic Section: Mullen Dip Line W E MULLEN PROSPECT Development of Late Aptian- Early Albian marine mudstone top seal Lateral/Updip pinch out of turbidite sandstone reservoir Mid Aptian Unconformity and correlative…
Geoseismic Section: Mullen Strike Line N S MULLEN PROSPECT Barremian shales
Geoseismic Section: Mullen Strike Line N S MULLEN PROSPECT Mid Aptian Unconformity and correlative conformity Barremian shales
Geoseismic Section: Mullen Strike Line N S MULLEN PROSPECT Lateral/Updip pinch out of turbidite sandstone reservoir Mid MidAptian AptianUnconformity Unconformity and correlative conformity Lateral pinch out Barremian…
Geoseismic Section: Mullen Strike Line N S MULLEN PROSPECT Lateral/Updip pinch out of Development of Late Aptian-Early Albian marine turbidite mudstone top seal sandstone reservoir Mid MidAptian AptianUnconformity…
Analogues- African transform margin Cretaceous turbidite sandstones in stratigraphic traps
Mullen Volumetrics and Resources P90 Geo P50 amp P10 Geo GRV m3 x106 890 3,980 11,099 Resources mmbbl 66 318 1,092 Mean resources 482 mmbbl Closure defined by structural and stratigraphic mapping Amplitude supported closures
Prospect Reserve Size Cut-off for Porcupine Basin Derisk with 3D Current position Basin immaturity (and risks) suggests minimum drillable prospect size is around 200 mmbbl despite lenient fiscal regime
De-risking Objective mature prospect to drillable status Current work integrate 2D reprocessed data Further work: Undertake more reprocessing to support geophysical studies Rock physics and AVO studies Build business case for 3D…
Farmout Europa has 100% equity in L0 11/7 and 11/8 Objective is to accelerate exploration in both licences Seeking a joint venture partner to share seismic acquisition and (if justified) drilling Data room opens in January
For further information contact: Europa Oil & Gas (Holdings) PLC 6 Porter Street London W1U 6DD UK Telephone +44 20 7224 3770 maileuropaoil.com www.europaoil.com
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