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Europa Oil & Gas boss says Wressle deal is "win-win"

Speaking with Proactive Investors’ Stocktube about a deal to sell a portion of its stake in the Wressle field for £600,000 in cash, Europa Oil & Gas (LON:EOG) chief executive Hugh Mackay says “everything is for sale at the right price”.
Mackay emphasises that Europa is an explorer, and he felt that monetising a small percentage of Wressle was a win-win not just for the company but partner Union Jack Oil as well.
He added that the £5.4mln valuation for the remainder of Europa’s stake in Wressle represents an important benchmark.
Mackay also discusses Wressle’s continuing development and the plans for the Holmwood well, where it Europa plans to spend the cash proceeds.
Holmwood is one of the best conventional oil prospects remaining onshore UK, Mackay added.

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