Europa Oil & Gas and its big plans onshore UK and offshore Ireland
Europa's final results to end July showed a strong performance in the face of what are well documented challenges
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LON:EOG
Europa Oil & Gas (Holdings) plc is an exploration and production company focused on developing its balanced portfolio of assets in the North Sea, Atlantic Ireland and West Africa, supported by revenue from onshore oil production in the UK.
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Europa's final results to end July showed a strong performance in the face of what are well documented challenges
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Europa and Upland each own 25% of Hardstoft, alongside partner INEOS.
“We will continue to mature our Irish portfolio with the intention of delivering half a dozen drill-ready prospects," said chief executive Hugh Mackay.
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Mackay said: "we feel that Horse Hill is a very relevant well, there is good technical read across and it is certainly making us feel better about the prospect of finding hydrocarbons at Holmwood."
"We are delighted to be able to increase our position in Wressle as it is an attractive near term production asset," said David Bramhill, Union Jack Oil chairman.
Europa earmarks £600,000 from the sale for the Holmwood project near Horse Hill and plans drilling in 2017
Condor Gold continues to develop its La India gold, North River Resourcess to critically assess its Namib lead-zinc project, and MySQUAR's Hawk Hero game has continued to sell well.
CEO Hugh Mackay highlighted that Wressle will not only more than double net production it also substantially increases Europa’s asset backing.
Wressle is being fast-tracked to production following a successful exploration well which delivered excellent flow testing results last summer.
Whilst the Padraig Basin play is currently at an early exploration stage and at the higher risk end of the exploration spectrum, we have a work programme to de-risk this evolving play," Hugh Mackay said.
Thor Mining announces a new drill campaign, Metal Tiger confirms copper mineralisation and ServicePower unveils three new partnerships.
Thor Mining announces a new drill campaign, Metal Tiger confirms copper mineralisation and ServicePower unveils three new partnerships.
Europa increases its interests in projects operated by INEOS and Third Energy.
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A look at some of last week's developments in the small cap oil and gas sector
OptiBiotix Health appoints director of business, African Potash signs a deal with a distributor in Zambia and Proton Power Systems unveils a business overhaul.
The extension allows Europa to mature existing prospects and perform detailed mapping, whilst seeking a partner for the next phase.
London shares closed lower on Monday, as the month started with dire manufacturing output data to set a bad tone for the week as mid-caps fall below Brexit levels, again