Europa Oil & Gas offers catalysts and potential on multiple fronts
Europa is an AIM-listed oil and gas exploration and production company with assets in Europe and Africa.
Company
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.
515 stories · page 5 of 26
Europa is an AIM-listed oil and gas exploration and production company with assets in Europe and Africa.
The onshore UK field start-up is likely the most immediate positive catalyst for the group, albeit desk-based efforts continue for Irish and Moroccan partnerships
The oiler has funds for the Wressle project, meanwhile, activities in Morocco are being delayed and it could relinquish more Irish exploration acreage
First oil from Wressle is anticipated in the second half of this year
“Today’s relinquishment of LO 16/19 provides a worked example of how our low cost/low risk exploration model works in practice," said interim CEO Simon Oddie
The 'major' exited amid its own wider strategic review, Europa revealed.
The oiler said if the East Lincolnshire-based project is approved by the next government, its UK onshore production will rise to around 240 barrels per day
Oddie's role changes from non-executive chairman to interim chief executive and executive chairman.
The inquiry into plans for the Lincolnshire onshore oil discovery wrapped up early with the local council offering no evidence
“We will report any material developments in relation to these discussions when finalised,” investors were told in an update
The Morocco entry could be just the start of the companies expansion and diversification, though onshore UK and offshore Ireland remain important.
Nobody exactly knows what Leo Varadkar meant when he said Ireland would stop offshore exploration, but, evidently, it is not good news for those who have invested in the country's would-be oil frontier.
“The company understands that the phasing out of oil exploration only relates to future oil licences and not future gas licences”
The Inezgane project is described as an "excellent technical fit" with the group's Irish portfolio as both contain high potential prospects in Cretaceous plays.
Archive
A glance at some of the day's highlights from the Proactive Investors newswire
A drilling location for a first exploration well on Inishkea (18/20-H) has been identified.
Archive
A glance at some of the day's highlights from the Proactive Investors newswire
If the development of Wressle proceeds, the asset would see Europa’s onshore UK production volumes double.
Archive
It was another busy week in the junior oil and gas sector.
The Irish government argued the bill would not reduce Ireland’s carbon emissions but rather ensure that almost all its fossil fuels would be imported until it moved to a low-carbon economy