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Pin to quick picksEuropa Oil & Gas Share News (EOG)

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Europa Oil & Gas Chief Executive Hugh Mackay To Leave At End Of 2019

Thu, 21st Nov 2019 11:32

(Alliance News) - Europa Oil & Gas Holdings PLC is changing leadership, it said Thursday, as it looks to diversify its portfolio.

Hugh Mackay will step down a chief executive at the end of 2019 after eight years in the role. He will be replaced on an interim basis by Non-Executive Chair Simon Oddie.

The decision, Europa said, reflects a plan to add new assets in the appraisal and development part of the business.

Europa already has a range of production, exploration and development assets in the both onshore and offshore in the UK, as well as offshore Ireland. It also has a permit each in France and Morocco.

Chair Oddie said: "On behalf of the board, I would like to thank Hugh for his service to the company. Hugh was appointed CEO in 2011 and inherited a varied portfolio of exploration licences in Ireland, France, Western Sahara, and Romania as well as onshore UK production. He worked up and focused the company on a series of drillable exploration prospects capable of being farmed out.

"As a result, Europa has very high-impact exploration positions offshore Atlantic margin in Ireland and Morocco as well as oil development and production onshore UK. Hugh has also been successful in attracting institutional investors to the company's share register. This provides Hugh's successor with a solid base for the future development of the company."

Shares were 5.4% lower on Thursday morning in London at a price of 1.75 pence each.

By George Collard; georgecollard@alliancenews.com

Copyright 2019 Alliance News Limited. All Rights Reserved.

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14 Feb 2024 12:40

Europa Oil & Gas confirms extension to Cloughton licence

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14 Feb 2024 11:55

Europa Oil & Gas gets extension to PEDL 343 gas licence from UK NSTA

(Alliance News) - Europa Oil & Gas Holdings PLC on Wednesday announced an extension to its PEDL 343 licence in the East Midlands of England, which contains the Cloughton gas discovery.

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29 Jan 2024 10:27

IN BRIEF: Europa Oil hails phase extension for flagship Irish licence

Europa Oil & Gas Holdings PLC - UK and Ireland-focused oil and gas exploration, development, and production company - Says that Phase One of FEL 4/19, its licence in the Slyne basin, has been extended following approval from the Irish Government's Department of the Environment, Climate & Communications.

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15 Jan 2024 13:37

IN BRIEF: Europa Oil & Gas stock down as cashflow lower than expected

Europa Oil & Gas Holdings PLC - UK and Ireland-focused oil and gas exploration, development, and production company - Expects to report free cash flow of approximately GBP800,000 for 2023, lower than forecast of GBP4.2 million announced on Wednesday. Says lower than expected result was primarily due to delayed development at Wressle-1 well reducing revenue receipts for 2023, although it did result in "materially lower" capital expenditure. Says it has sufficient funds to cover expected capital and operational requirements for 2024. Company also reports that its cash position was GBP4.3 million at November 30, and that gross production at Wressle-1 is currently averaging 665 barrels of oil per day.

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2 Jan 2024 11:05

Union Jack and Europa Oil get resources upgrade for Wressle field

(Alliance News) - Union Jack Oil PLC and Europa Oil & Gas Holdings PLC on Tuesday said an independent assessment has increased the oil reserves of their licences at the Wressle field onshore in Lincolnshire, England.

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19 Dec 2023 12:43

Europa Oil & Gas and Union Jack Oil toast flow rate at Wressle-1 well

(Alliance News) - Europa Oil & Gas Holdings PLC and Union Jack Oil PLC on Tuesday said that production had increased at the UK onshore Wressle-1 well.

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29 Nov 2023 17:20

Union Jack, Europa O&G note Egdon update on Wressle future plans

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Copyright 2023 Alliance News Ltd. All Rights Reserved.

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8 Nov 2023 13:29

IN BRIEF: Union Jack, Europa Oil note Wressle-1 back up and running

Union Jack Oil PLC - UK-focused onshore hydrocarbon production, development, and exploration company - Wressle-1 well has been brought back into production following installation of a downhole jet pump. "Since production resumed, flow-rates in excess of 950 barrels of oil per day have been recorded. The well is now on continuous 24-hour production and is still cleaning up. Export and sale of oil has recommenced," Union Jack says. The firm owns a 40% interest in the asset. Europa Oil & Gas Holdings PLC, with a 30% stake, also notes the development.

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IN BRIEF: Europa Oil & Gas swings to loss amid one-off costs

Europa Oil & Gas Holdings PLC - UK and Ireland-focused oil and gas exploration, development, and production company - In the year ended July 31, reports a pretax loss of GBP884,000, compared to a profit of GBP1.4 million the year prior. Revenue rises to GBP6.7 million from GBP6.6 million year-on-year. Notes the stable revenue figure was despite a lower oil price and weaker pound during the period. Records a GBP1.7 million exploration write-off in the year, as well as significantly higher expenses. Administrative expenses jump to GBP1.9 million from GBP821,000, while finance expense climb to GBP717,000 from USD238,000.

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23 Oct 2023 09:12

Europa Oil maintains revenue despite lower crude prices

(Sharecast News) - Europa Oil & Gas said in its final results on Monday that, despite a lower oil price and a weaker pound, it maintained stable revenue at £6.7m for the 2023 financial year - a slight increase from last year's £6.6m.

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18 Oct 2023 14:22

Europa Oil & Gas, Union Jack Oil say Wressle work complete

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