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Europa Oil & Gas (Holdings) Plc RNS Release

Europa Oil & Gas (Holdings) Plc - Wressle Development Planning Appeals Rejected


Europa Oil & Gas (Holdings) Plc - Wressle Development Planning Appeals Rejected

PR Newswire

Europa Oil & Gas (Holdings) plc / Index: AIM / Epic: EOG / Sector: Oil & Gas

5 January 2018

Europa Oil & Gas (Holdings) plc (‘Europa’ or ‘the Company’)

Wressle Development Planning Appeals Rejected

Europa Oil & Gas (Holdings) plc, the UK and Ireland focussed oil and gas exploration, development and production company, notes today’s update from Egdon Resources (‘Egdon’) regarding the Planning Inspectorate’s decision in respect of the Wressle Planning Inquiry.  The decision made by the Inspector is to reject the appeals by Egdon against the two planning refusals by North Lincolnshire County Council’s Planning Committee in respect of the development of the Wressle oil discovery in licences PEDL180 and PEDL182 (‘the Licences’) in North Lincolnshire.

However, the Planning Inspectorate has advised that it did uphold Egdon’s appeal against the decision to refuse the application to retain the existing planning for the well site, which is now retained until 28 April 2018.  

Europa has a 30%* working interest in Wressle alongside Egdon (operator, 25%), Celtique Energie Petroleum Ltd (33.33%), and Union Jack Oil (11.67%), (together ‘the Joint Venture partners’).   The Joint Venture partners are considering in detail the reasons for the refusals as contained in the decision notice and will review the options available.  A further update will be provided to the market in due course.

*On 24 November 2016, Europa announced it had signed a Sale and Purchase Agreement (‘SPA’) with Upland Resources (UK Onshore) Limited (‘Upland’) in relation to a 10% interest in PEDLs 180 and 182.  Completion of the SPA, which is subject to approval from the Oil & Gas Authority, 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
Emily Morris 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.

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.

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