Europa Oil & Gas (Holdings) PLC Completion of Serenity Farm-in (2960U)
01 August 2022 - 4:00PM
UK Regulatory
TIDMEOG
RNS Number : 2960U
Europa Oil & Gas (Holdings) PLC
01 August 2022
Europa Oil & Gas (Holdings) plc / Index: AIM / Epic: EOG /
Sector: Oil & Gas
1 August 2022
Europa Oil & Gas (Holdings) plc
("Europa" or the "Company")
Completion of Serenity Farm-in
Europa Oil & Gas (Holdings) plc, the AIM traded UK, Ireland
and Morocco focused oil and gas exploration, development, and
production company, is pleased to announce that all conditions
precedent required to complete the farm-in to Block 13/23c
("Serenity") have now been satisfied. The Company announced the
details of the Serenity Farm-in Agreement on 21 April 2022, noting
that the farm-in agreement was subject to approval from the North
Sea Transition Authority and other customary conditions. These
conditions have now all been satisfied and the farm-in has now
completed.
Simon Oddie, CEO, said :
"I'm pleased that we have now completed the final formalities of
the Serenity Farm-in and look forward to updating the market as we
progress, with i3 Energy as operator, towards starting drilling
operations in early September. The Serenity appraisal well, an
important near-term catalyst for Europa, has the potential to prove
sufficient recoverable volumes to justify a standalone development
and could deliver significant near-term value to our
shareholders."
* * ENDS * *
For further information, please visit www.europaoil.com or
contact:
Simon Oddie Europa Oil & Gas (Holdings) mail@europaoil.com
plc
Murray Johnson Europa Oil & Gas (Holdings) mail@europaoil.com
plc
William Holland Europa Oil & Gas (Holdings) mail@europaoil.com
plc
Strand Hanson Limited - Nominated +44 (0) 20 7409
James Dance & Financial Adviser 3494
Strand Hanson Limited - Nominated +44 (0) 20 7409
James Spinney & Financial Adviser 3494
+44 (0) 20 7186
Peter Krens Tennyson Securities 9033
+ 44 (0) 20 7390
Patrick d'Ancona Vigo Consulting 0230
+ 44 (0) 20 7390
Finlay Thomson Vigo Consulting 0230
+ 44 (0) 20 7390
Kendall Hill Vigo Consulting 0230
Notes to Editors
Europa Oil & Gas (Holdings) plc has a diversified portfolio
of multi-stage hydrocarbon assets which includes production,
development and exploration interests, in countries that are
politically stable, have transparent licensing processes, and offer
attractive terms. Production in the half-year to 31 January 2022
was 208 boepd. In April 2022, Europa farmed into P.2358, Block
13/23c ("Serenity") in the Outer Moray Firth area of the North Sea.
The licence contains the 2019 Serenity oil discovery, in which
Europa now has a 25% interest. The Company holds one exploration
licence offshore Ireland, which has the potential to host gross
mean un-risked prospective resources of 1.5 trillion cubic feet
("tcf") gas. Inishkea is a near field gas prospect in the Slyne
Basin which the Company classifies as lower risk due to its close
proximity to the producing Corrib gas field and associated gas
processing infrastructure. In September 2019, Europa was awarded a
75% interest in the Inezgane permit offshore Morocco. Initial
results of technical work have identified 30 prospects and leads
that have the potential to hold in excess of one billion barrels of
unrisked oil resources. In December 2021, Europa announced a
collaboration between Baker Hughes and CausewayGT to conduct a
geothermal clean heat project at the Company's West Firsby field.
If this project is successful, it will prove the operational
ability to extract and use geothermal heat from the site.
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