Europa Oil & Gas (Holdings) plc announced that the necessary Environment Agency ("EA") approval has now been received to allow higher volumes of fluids to be handled at surface and nearby water disposal facilities. Prior to the EA approval being granted, the W1 well at the onshore UK Wressle oilfield was producing at a stable gross production rate of over 550 barrels of oil per day ("bopd") (net 165 bopd to Europa), however this rate was achieved at constrained surface jet pump rates. Since 14 December 2023, following the EA approval, the surface pump rate has gradually been increased and the oil production rate over a 24-hour period ending at 7am on 18 December 2023 was 680 bopd (net 204 bopd to Europa).

In order to determine the best rate for the jet pump to optimise oil production rates and for reservoir management, the well is being carefully monitored as the pump rate is gradually increased. It is expected that it will be a few weeks before the well stabilises and an optimised production rate is achieved.