Europa Oil & Gas (Holdings) plc /
Index: AIM / Epic: EOG / Sector: Oil & Gas
3 May 2017
Europa Oil &
Gas (Holdings) plc (‘Europa’ or ‘the Company’)
New Planning
Application for Wressle Discovery
Europa Oil & Gas (Holdings) plc, the AIM traded UK and
Ireland focused oil and gas
exploration, development and production company, notes the update
issued today by Egdon Resources plc (“Egdon”) regarding the Wressle
Oil Field at Lodge Farm, North Lincolnshire (“Wressle”). Europa has
a 30%* working interest in Wressle alongside Egdon (operator, 25%),
Celtique Energie Petroleum Ltd (30%, after the sale of 3.33% to
Union Jack Oil which is subject to OGA approval), and Union Jack
Oil (15%, following the above sale), (together the “Joint Venture
Partners”).
On 28 April 2017, Egdon submitted
a new Planning Application (the “Application”) for the development
of Wressle. The Application includes additional detailed
information to address the specific concerns raised by North
Lincolnshire County Council in its 11
January 2017 decision to refuse planning consent for the
development of Wressle. The Application will now be validated by
the North Lincolnshire Council planning department prior to the
commencement of the consultation process. This process typically
takes one to two weeks.
As announced on 11 April 2017,
Egdon has already submitted an appeal against North Lincolnshire
County Council’s decision to refuse planning consent (‘the
Appeal’). The Application and the Appeal form part of a dual track
approach which the Joint Venture partners believe provides the best
opportunity for a successful planning outcome which will allow
Wressle to be brought into production with the minimum delay.
*On 24 November 2016, Europa
announced it had signed a Sale and Purchase Agreement (‘SPA’) with
Upland Resources (UK Onshore) Limited in relation to a 10% interest
in PEDLs 180 and 182. Completion of the SPA, which is subject to
planning and other approvals would result in Europa retaining a 20%
interest in the Licences.
* * ENDS * *
For further information please visit 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 |
Susie Geliher |
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. Its highly prospective exploration projects
include the Wressle oil development in the UK and seven licences
offshore Ireland with the
potential to host gross mean un-risked prospective and indicative
resources of more than 4 billion barrels oil equivalent and 1.5 TCF
gas across all seven licences. In 2016 Europa produced 123 boepd
from its portfolio of onshore UK licences.
Qualified Person Review
This release has been reviewed by Hugh
Mackay, Chief Executive of Europa, who is a petroleum
geologist with 30 years' experience in petroleum exploration and a
member of the Petroleum Exploration Society of Great Britain, American Association of
Petroleum Geologists and Fellow of the Geological Society. Mr
Mackay has consented to the inclusion of the technical information
in this release in the form and context in which it appears.