Europa Oil & Gas Regulatory News (EOG)

EUROPA OIL & GAS (HOLDINGS) PLC - 14th Onshore Licensing Round

PR Newswire

London, August 18

Europa Oil & Gas (Holdings) plc / Index: AIM / Epic: EOG / Sector: Oil & Gas

19 August 2015

Europa Oil & Gas (Holdings) plc (“Europa” or the “Company”)

14th Onshore Oil & Gas Licensing Round

Europa, the AIM listed oil and gas exploration and development company with a combination of producing and exploration assets in Europe, notes the announcement on 18 August by the Oil & Gas Authority (“OGA”), the UK’s oil and gas regulator, that a first tranche of 27 onshore blocks from the 14th Onshore Oil and Gas Licensing Round will be formally offered to companies.

Europa has made a number of applications for onshore blocks as it looks to complement its portfolio of producing assets in the UK. None of these applications were for blocks awarded in this first tranche.

The Company understands that a second tranche of 132 further blocks has been subjected to detailed assessment under the Conservation of Habitats and Species Regulations 2010, the findings of which are now out for consultation. Subject to the outcome of that consultation, the OGA will announce offers for the second group of licence blocks later in the year. The licences for all offered blocks will then be granted after the terms and conditions have been finalised.

Europa looks forward to further announcements from the OGA with great interest.

**ENDS**

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Notes

Europa Oil & Gas (Holdings) plc has a diversified portfolio of multi-stage hydrocarbon assets that includes production, exploration and development interests, in countries that are politically stable, have transparent licensing processes, and offer attractive terms. In H1/2015 Europa produced 144 boepd generating sufficient revenues to cover corporate overheads and some exploration expenditure. Its highly prospective exploration projects include the Wressle discovery (recently drilled and tested at an aggregate of 710 boepd from 4 zones) in the UK; 100% owned gas exploration prospect (107 bcf) and appraisal project (CPR 277 bcf) in onshore France a joint venture with Vermillion Energy also in onshore France; and a joint venture with leading independent Kosmos to explore two licences in offshore Ireland with the potential to host gross mean un-risked Prospective Resources approximately 1.7 billion barrels across both licences.