Europa Oil & Gas (Holdings) Plc Update on Wressle Oil Discovery
11 April 2017 - 4:00PM
UK Regulatory
TIDMEOG
Europa Oil & Gas (Holdings) plc / Index: AIM / Epic: EOG / Sector: Oil & Gas
11 April 2017
Europa Oil & Gas (Holdings) plc ('Europa' or 'the Company')
Update on Wressle Oil Discovery
Europa Oil & Gas (Holdings) plc, the AIM traded UK and Ireland focused oil and
gas exploration, development and production company, notes the update issued
today by Egdon Resources plc ('Egdon') regarding the Wressle Oil Field at Lodge
Farm, North Lincolnshire ('Wressle'). This includes the commencement of the
appeal process ('the Appeal') in respect of the refusal of planning consent for
the development of Wressle by North Lincolnshire County Council ('the Council')
on 11 January 2017. Europa has a 30%* working interest in Wressle alongside
Egdon (operator, 25%), Celtique Energie Petroleum Ltd (30%, after the sale of
3.33% to Union Jack Oil which is subject to OGA approval), and Union Jack Oil
(15%, following the above sale), (together 'the Joint Venture partners').
* The Appeal is being undertaken via the Planning Inspectorate which is
currently validating the relevant documentation. Egdon expects the
validation process to take between one and two weeks. Following this,
Egdon and the Council will be notified of the start date and timetable for
the appeal process.
* As previously announced, Egdon will be submitting a new planning
application for the Wressle development during April 2017 and will include
detailed information to address the specific concerns outlined by the
Council in their refusal.
* The Environmental Permit for the Wressle development is expected to be
issued towards the end of April 2017, subject to the outcome of the current
consultation process on the draft permit which closes shortly.
* The water monitoring boreholes, for which planning consent was received at
the 11 January 2017 planning meeting, were successfully installed on the
existing Wressle well site during February 2017.
Europa's CEO, Hugh Mackay, said "Wressle is just one of many conventional oil
fields that have been discovered in the East Midlands, a petroleum province
which has a long heritage of oil and gas production stretching over decades. As
a result, we believe the case to bring Wressle into production is strong and we
are hopeful that Egdon, in its capacity as operator of the licence, will be
successful with the Appeal."
*On 24 November 2016, Europa announced it had signed a Sale and Purchase
Agreement ('SPA') with Upland Resources (UK Onshore) Limited in relation to a
10% interest in PEDLs 180 and 182. Completion of the SPA, which is subject to
planning and other approvals would result in Europa retaining a 20% interest in
the Licences.
* * ENDS * *
For further information please visit www.europaoil.com or contact:
Hugh Mackay Europa + 44 (0) 20 7224
3770
Phil Greenhalgh Europa + 44 (0) 20 7224
3770
Matt Goode finnCap Ltd + 44 (0) 20 7220
0500
Simon Hicks finnCap Ltd + 44 (0) 20 7220
0500
Frank Buhagiar St Brides Partners Ltd + 44 (0) 20 7236
1177
Susie Geliher St Brides Partners Ltd + 44 (0) 20 7236
1177
Notes
Europa Oil & Gas (Holdings) plc has a diversified portfolio of multi-stage
hydrocarbon assets that includes production, exploration and development
interests, in countries that are politically stable, have transparent licensing
processes, and offer attractive terms. Its highly prospective exploration
projects include the Wressle oil development in the UK and seven licences
offshore Ireland with the potential to host gross mean un-risked prospective
and indicative resources of more than 4 billion barrels oil equivalent and 1.5
TCF gas across all seven licences. In 2016 Europa produced 123 boepd from its
portfolio of onshore UK licences.
Qualified Person Review
This release has been reviewed by Hugh Mackay, Chief Executive of Europa, who
is a petroleum geologist with 30 years' experience in petroleum exploration and
a member of the Petroleum Exploration Society of Great Britain, American
Association of Petroleum Geologists and Fellow of the Geological Society. Mr
Mackay has consented to the inclusion of the technical information in this
release in the form and context in which it appears.
END
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