Europa Oil & Gas (Holdings) PLC

Europa Oil & Gas expects Morocco permit to be awarded shortly

Europa O&G said it was recently invited by ONHYM to join a panel discussion on Morocco at a recent industry conference

In a letter to shareholders, the group also said activity is increasing on Ireland's Atlantic Margin

Europa Oil & Gas (Holdings) PLC (LON:EOG) has revealed it is close to being awarded an offshore exploration permit on the Atlantic Margin of Morocco.

In a letter to shareholders, the firm said a bank guarantee is the final requirement and once this is in place it will sign the agreements with ONHYM (The National Office of Hydrocarbons and Mines) in Rabat.

Europa pointed out that it was recently invited by ONHYM to join a panel discussion on Morocco at a recent industry conference, underlining its credentials in the country.

Meanwhile, in Ireland, the group said talks are ongoing over farm-outs of three Atlantic margin licences: LO 16/20 (Inishkea), FEL 1/17 (Edgeworth) and FEL 3/13 (Beckett, Shaw and Wilde).

Europa noted that CNOOC’s nearby Iolar well spudded on 28 May and is expected to reach target depth on 5 September.

If successful, this will have beneficial implications for Edgeworth and Kiely East (FEL2/13) with the potential to ‘de-risk 1bn barrels in Europa’s inventory’.

Europa has also submitted applications for three site surveys in Atlantic Ireland to make them drill ready.

In the UK, a planning appeal at Wressle starts on 5 November.

If approved, Wressle would increase Europa’s production to more than 200 barrels per day net.

Quick facts: Europa Oil & Gas (Holdings) PLC

Price: £0.02

Market: AIM
Market Cap: £10.23 m

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Europa Oil & Gas (Holdings) PLC named herein, including the promotion by the Company of Europa Oil & Gas (Holdings) PLC in any Content on the...



Investor Update: Eco Atlantic reports major oil discovery offshore Guyana

Headlines from the Proactive UK newsroom. Eco Atlantic (LON:ECO), Tullow (LON:TLW) and Total have made a major oil discovery offshore Guyana on the Orinduik licence. The Jethro-1 exploration well hit 55m of net oil pay, which supports a recoverable oil resource estimate above operator...

on 12/8/19

2 min read