Europa Oil & Gas (Holdings) plc /
Index: AIM / Epic: EOG / Sector: Oil & Gas
19 May 2017
Europa Oil &
Gas (Holdings) plc (‘Europa’ or ‘the Company’)
Issue of EA Permit Variation
for Wressle Discovery
Europa Oil & Gas (Holdings) plc, the AIM traded UK and
Ireland focused oil and gas
exploration, development and production company, notes today’s
update by Egdon Resources plc (“Egdon”) regarding the issue by the
Environment Agency of the variation to the Mining Waste Permit
(“the EA Permit”) for the planned development of, and associated
operations at, the Wressle Oil Field at Lodge Farm, North
Lincolnshire (“Wressle”). 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 plc
which is subject to OGA approval), and Union Jack Oil plc (15%,
following the above sale), (together the “Joint Venture
Partners”).
The issue of the EA Permit represents a major regulatory
milestone in the proposed development of Wressle, and supports the
new Planning Application which was submitted by Egdon on 28 April
2017.
Europa CEO Hugh Mackay said, “The
Environment Agency has taken a long hard look at the partners’
development plans for Wressle and determined that the procedures we
propose will prevent, mitigate and minimise any environmental
impact at the site. With this in mind, the partners are
confident that the Environment Agency’s comprehensive assessment
and positive conclusion will be reflected in the outcome of the new
Planning Application.”
*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 resources of
more than 4 billion barrels oil equivalent and 1.5 TCF gas across
all seven licences. In H1 2017 Europa produced 115 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.