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Europa Oil & Gas Holdings PLC - UK, Ireland and Morocco focused oil and gas company - Formally launches farmout initiative for the Inezgane offshore permit in Morocco in the Agadir basin, which was first awarded in 2019.
Europa's most recent evaluation has identified a significant volume of resources in the licence, in excess of 2 million barrels of oil equivalent.
"We are delighted to announce the launch of the Farmout initiative of the Inezgane Licence which represents not only a high-impact exploration opportunity for Europa but also sits comfortably within the company's strategy of creating a balanced portfolio of complementary assets. Morocco is a welcoming jurisdiction in which to operate and has excellent ESG credentials in the fields of wind, solar and hydroelectric with ambitions to source 50% of its electrical energy from renewable sources by 2030 as well as becoming a net exporter to Europe," said Chief Executive Officer Simon Oddie.
Current stock price: 1.30 pence
Year-to-date change: up 18%
By Dayo Laniyan; dayolaniyan@alliancenews.com
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