Europa Oil & Gas (Holdings) Plc Wressle Planning Appeal
February 05 2019 - 1:00AM
UK Regulatory
TIDMEOG
Europa Oil & Gas (Holdings) plc / Index: AIM / Epic: EOG / Sector: Oil & Gas
5 February 2019
Europa Oil & Gas (Holdings) plc ('Europa' or 'the Company')
Wressle Planning Appeal
Europa Oil & Gas (Holdings) plc, the UK and Ireland focused oil and gas
exploration, development and production company, notes today's update from
Egdon Resources ('Egdon') that it has submitted to the Planning Inspectorate an
appeal against the refusal of planning consent for the development of the
Wressle oil field by North Lincolnshire Council's (the "Council") Planning
Committee on 28 November 2018. The appeal will now be validated by the Planning
Inspectorate and a bespoke timetable advised for the appeal process which will
lead to a planning inquiry in due course.
The Wressle oil field was discovered by the Wressle-1 well in 2014. During
testing in 2015, Wressle-1 flowed oil and gas from three separate reservoirs,
the Ashover Grit, the Wingfield Flags and the Penistone Flags. A total of 710
barrels of oil equivalent per day were recovered from all zones. In September
2016, a Competent Person's Report provided independent estimates of Reserves
and Contingent and Prospective oil and gas Resources for the Wressle discovery
of 2.15 million stock tank barrels classified as discovered (2P+2C).
Europa has a 30% working interest in licence PEDL 180 in the East Midlands
which holds the Wressle oil discovery, alongside Egdon (operator, 30%), Union
Jack Oil (27.5%), and Humber Oil & Gas Limited (12.5%) (together 'the
Partners').
Europa's CEO, Hugh Mackay, said: "The Partners are confident the new proposals
for the development of Wressle comprehensively address the reasons highlighted
by the Planning Inspector in the original appeal in January 2018, particularly
as these have been recommended for approval by the Council's Planning Officer
and supported by an expert third party review undertaken on behalf of the
Council. Further details regarding the public inquiry, during which a Planning
Inspector will consider the Partners' appeal, will be provided in due course,
as we support the operator's efforts to bring the Wressle discovery online at
an initial gross rate of 500bopd and in the process more than double Europa's
existing production to over 200bopd."
The information communicated in this announcement contains inside information
for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014.
* * 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
Camille Gochez 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. In 2018 Europa produced 94 boepd. Its
highly prospective exploration projects include the Wressle development in the
UK (targeting production start-up in 2019 at 500 bopd gross) and six licences
offshore Ireland with the potential to host gross mean un-risked prospective
resources of 6.4 billion barrels oil equivalent and 2.5 tcf undiscovered GIIP
across all six licences.
END
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