Europa Oil & Gas (Holdings) Plc Issue of EA Permit Variation for Wressle Discovery
May 19 2017 - 2:00AM
UK Regulatory
TIDMEOG
Europa Oil & Gas (Holdings) plc / Index: AIM / Epic: EOG / Sector: Oil & Gas
19 May 2017
Europa Oil & Gas (Holdings) plc ('Europa' or 'the Company')
Issue of EA Permit Variation for Wressle Discovery
Europa Oil & Gas (Holdings) plc, the AIM traded UK and Ireland focused oil and
gas exploration, development and production company, notes today's update by
Egdon Resources plc ("Egdon") regarding the issue by the Environment Agency of
the variation to the Mining Waste Permit ("the EA Permit") for the planned
development of, and associated operations at, 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 plc which is subject to OGA
approval), and Union Jack Oil plc (15%, following the above sale), (together
the "Joint Venture Partners").
The issue of the EA Permit represents a major regulatory milestone in the
proposed development of Wressle, and supports the new Planning Application
which was submitted by Egdon on 28 April 2017.
Europa CEO Hugh Mackay said, "The Environment Agency has taken a long hard look
at the partners' development plans for Wressle and determined that the
procedures we propose will prevent, mitigate and minimise any environmental
impact at the site. With this in mind, the partners are confident that the
Environment Agency's comprehensive assessment and positive conclusion will be
reflected in the outcome of the new Planning Application."
*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
resources of more than 4 billion barrels oil equivalent and 1.5 TCF gas across
all seven licences. In H1 2017 Europa produced 115 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.
END
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