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Europa Oil & Gas hails farmout deal with Cairn Energy where size of prize is potential 1bn barrels

Hugh Mackay, of Europa Oil & Gas (Holdings), has hailed the firm's  farm-out agreement with Cairn Energy PLC (LON:CNE) on an early stage project (licensing option 16/19) off the coast of Ireland.
It means 3D seismic can start this summer, with potentially a prospect inventory mapped out by the end of 2018, he says.
"It's very positive that we are able to push ahead with that and get seismic done now and the size of the prize potentially in 16/19  is a billion barrels," he tells Proactive.

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