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EUROPA OIL & GAS (HOLDINGS) PLC - Update on PEDL143 Licence, Weald BasinEUROPA OIL & GAS (HOLDINGS) PLC - Update on PEDL143 Licence, Weald Basin
PR Newswire
London, June 28
Europa Oil & Gas (Holdings) plc / Index: AIM / Epic: EOG / Sector: Oil & Gas
29 June 2015
Europa Oil & Gas (Holdings) plc (‘Europa’ or ‘the Company’)
Update on PEDL143 Licence, Holmwood Prospect, Weald Basin, UK
Europa Oil & Gas (Holdings) plc, the AIM quoted oil and gas company with a combination of producing and exploration assets in Europe, notes today’s announcement from UK Oil & Gas Investments PLC (‘UKOG’) that it has executed a Farm-in agreement with Egdon Resources (‘Egdon’) to acquire a 20% interest in the Europa operated PEDL143 licence in the Weald Basin, Surrey. Europa holds a 40% interest in PEDL 143, which contains the conventional Holmwood prospect, alongside Egdon (18.4%), Altwood Petroleum (1.6%), Warwick Energy (20%) and UKOG (20%).
Europa’s CEO, Hugh Mackay said, “With mean gross un-risked prospective resources of 5.6 million barrels of oil, as estimated in a CPR published in June 2012, and a one in three chance of success, we view Holmwood as being one of the best undrilled conventional prospects onshore in the UK. We are currently focused on securing planning permission to drill an exploratory well and undertake a short-term test for conventional hydrocarbons at Holmwood. We welcome UKOG to the partnership.”
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For further information please visit http://www.europaoil.com/ or contact:
| Hugh Mackay | Europa | + 44 (0) 20 7224 3770 |
| Phil Greenhalgh | Europa | + 44 (0) 20 7224 3770 |
| Matt Goode | finnCap Ltd | + 44 (0) 20 7220 0500 |
| Simon Hicks | finnCap Ltd | + 44 (0) 20 7220 0500 |
| Frank Buhagiar | St Brides Partners Ltd | + 44 (0) 20 7236 1177 |
| Lottie Brocklehurst | St Brides Partners Ltd | + 44 (0) 20 7236 1177 |
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.