Europa Oil & Gas (LON:EOG) has confirmed it has been offered new acreage via the UK’s 14th onshore licensing round.
It has stakes in a total of five licence blocks offered by the government.
Hugh Mackay, Europa chief executive, says he’s excited by the opportunities presented by new licence offers, and he highlighted they had “strong partner groups”.
“The new awards comprise a mix of field rejuvenation, appraisal and exploration assets and build on our technical and commercial experience in the East Midlands and Cleveland Basin.
“Whilst the new blocks are predominantly prospective for conventional oil and gas there is some unconventional prospectivity.”
As operator it has been offered blocks SE72 and SE73, in the Humber Area, north of Goole in the Cleveland Basin. The area is being targeted for conventional hydrocarbons, not shale, and it is believed to host a continuation of the same trend that hosts the Crosby Warren and Wressle fields.
Europa has a 50% stake in these assets.
It is also a partner it a collaboration with INEOS, which has been offered Block SK46c in the East Midlands petroleum province.
Here, Europa is exposed to the conventional resources only, whereas INEOS will have all the rights and obligations relating to unconventional oil and gas plays. The AIM quoted company has a 16.66% interest in the project.
In a separate venture, Europa has a 22.5% stake in a project operated by Third Energy, owned by Barclays’ private equity arm.
The Third Energy project is located in the Cleveland Basin, north of Scarborough, and the project’s primary objective is an appraisal of the Cloughton prospect (discovered in 1986).