Europa raises funds to drill Kiln Lane prospect

Europa Oil & Gas has raised $4.7 million, which will enable the firm to drill its Kiln Lane prospect in the East Midlands, England.

Europa CEO Hugh Mackay said, “This will allow us to drill the Kiln Lane prospect on PEDL-181, which is located in a working hydrocarbon system where a number of discoveries have been made in adjacent licenses. We estimate that Kiln Lane has gross mean unrisked resources of 2.9 million barrels of oil and, with a 50% interest and operatorship of the license, we hope to drill a well in the second half of 2014."

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