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Europa Oil & Gas highlights Inishkea potential as farm-outs continue

Europa Oil & Gas Holdings plc (LON:EOG) has highlighted a new prospect inventory for its priority exploration area in the Slyne Basin, off Ireland’s west coast. CEO Hugh Mackay tells Proactive London how the farm outs are progressing and what's been happening in the dataroom. The Inishkea gas targets however remain the company’s primary focus, and the new inventory confirms some 1.5 trillion cubic feet in prospective resources. Mackay also details that the prospects have a 1-in-3 chance of success and how a site survey is planned for this year which makes 2020 drilling possible, subject to funding and regulatory approval. .Farm out talks are ongoing with a major oil and gas company, “Since opening the farmout dataroom in December 2018 we have had several large oil companies review the prospect and we are updating them with this new information,” said Mackay. “Separately, our ongoing farm-in negotiations with a major international oil and gas company for three of our licences, FEL 1/17, FEL 3/13, and LO 16/20 which holds Inishkea are progressing well.

Quick facts: Europa Oil & Gas Holdings PLC

Price: 1.05 GBX

AIM:EOG
Market: AIM
Market Cap: £4.67 m
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