Europa Oil & Gas (Holdings) plc /
Index: AIM / Epic: EOG / Sector: Oil & Gas
5 January 2018
Europa Oil &
Gas (Holdings) plc (‘Europa’ or ‘the Company’)
Wressle
Development Planning Appeals Rejected
Europa Oil & Gas (Holdings) plc, the UK and Ireland focussed oil and gas exploration,
development and production company, notes today’s update from Egdon
Resources (‘Egdon’) regarding the Planning Inspectorate’s decision
in respect of the Wressle Planning Inquiry. The decision made
by the Inspector is to reject the appeals by Egdon against the two
planning refusals by North Lincolnshire County Council’s Planning
Committee in respect of the development of the Wressle oil
discovery in licences PEDL180 and PEDL182 (‘the Licences’) in North
Lincolnshire.
However, the Planning Inspectorate has advised that it did
uphold Egdon’s appeal against the decision to refuse the
application to retain the existing planning for the well site,
which is now retained until 28 April
2018.
Europa has a 30%* working interest in Wressle alongside Egdon
(operator, 25%), Celtique Energie Petroleum Ltd (33.33%), and Union
Jack Oil (11.67%), (together ‘the Joint Venture partners’).
The Joint Venture partners are considering in detail
the reasons for the refusals as contained in the decision notice
and will review the options available. A further update will
be provided to the market in due course.
*On 24 November 2016, Europa
announced it had signed a Sale and Purchase Agreement (‘SPA’) with
Upland Resources (UK Onshore) Limited (‘Upland’) in relation to a
10% interest in PEDLs 180 and 182. Completion of the SPA,
which is subject to approval from the Oil & Gas Authority,
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 |
Emily Morris |
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 2017 Europa produced 113 boepd. Its highly prospective
exploration projects include the Wressle development in the UK and
seven licences offshore Ireland
with the potential to host gross mean un-risked prospective and
indicative resources of 4.7 billion barrels oil equivalent and 1.5
tcf gas across all seven 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.