Europa Oil & Gas (Holdings) Plc - Update on Holmwood Well, PEDL 143, Weald Basin
London, November 20
Europa Oil & Gas (Holdings) plc / Index: AIM / Epic: EOG / Sector: Oil & Gas
21 November 2017
Europa Oil & Gas (Holdings) plc (‘Europa’ or ‘the Company’)
Update on Holmwood Well, PEDL 143, Weald Basin
Europa Oil & Gas (Holdings) plc, the AIM traded Ireland and UK focused oil and gas exploration, development and production company, is pleased to provide a planning update regarding the Holmwood oil exploration prospect (‘Holmwood’) on licence PEDL 143 at Bury Hill Wood, Coldharbour Lane, Surrey. Europa Oil & Gas Limited is operator of PEDL 143 in which it holds a 20% interest.
As previously advised in the Company’s announcement of 19 October 2017, Surrey County Council’s Planning and Regulatory Committee met on 18 October 2017 in connection with a conventional oil exploration well to test the Holmwood prospect. The Committee resolved to defer a decision on Condition 19 (Construction Traffic Management Plan) of the planning permission granted on 7 August 2015. Europa considers that the Construction Traffic Management Plan as submitted to SCC on 21 September 2017 for approval satisfactorily meets the requirements of Condition 19. Europa will shortly submit an appeal (‘the Appeal’) to the Planning Inspectorate against the refusal of Surrey County Council to approve the Construction Traffic Management Plan and discharge Condition 19.
Europa will also resubmit the Construction Traffic Management Plan to SCC for their consideration (‘the Resubmittal’). In parallel with this Europa will undertake additional consultations with Parish Councils and residents of Coldharbour Lane to provide further information regarding the Traffic Management Plan.
The Resubmittal and the Appeal form part of a dual track approach that Europa and its partners believe provides the best opportunity for a successful planning outcome and which will enable the discharge of Condition 19.
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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|
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. In 2017 Europa produced 113 boepd. Its highly prospective exploration projects include the Wressle development in the UK and seven licences offshore Ireland with the potential to host gross mean un-risked prospective and indicative resources of 4.7 billion barrels oil equivalent and 1.5 tcf gas across all seven 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.