Europa Oil & Gas (Holdings) plc /
Index: AIM / Epic: EOG / Sector: Oil & Gas
3 June 2019
Europa Oil &
Gas (Holdings) plc (‘Europa’ or ‘the Company’)
Completion of Sale
of Interest in UK Licence
Europa Oil & Gas (Holdings) plc, the UK and Ireland focused oil and gas exploration,
development and production company, is pleased to announce that it
has completed the sale of its 20% interest in the UK onshore
PEDL143 exploration licence to AIM listed UK Oil & Gas PLC
(‘UKOG’) for a consideration of £300,000, satisfied through the
issue of 25,951,557 shares (‘Consideration Shares’) in UKOG, and as
outlined in the announcement dated 16 April
2019. The Consideration Shares issued to Europa are
subject to a six-month orderly market provision.
An application has been made for the Consideration Shares to be
admitted to trading on AIM, which are anticipated to be available
for trading on or around 7 June 2019
(“Admission”).
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 |
| Juliet Earl |
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 1.5 tcf gas
across all six licences.
Evaluation of hydrocarbon volumes has been assessed in
accordance with 2018 Petroleum Resources Management System (PRMS)
prepared by the Oil and Gas Reserves Committee of the Society of
Petroleum Engineers (SPE) and reviewed and jointly sponsored by the
World Petroleum Council (WPC), the American Association of
Petroleum Geologists (AAPG), the Society of Petroleum
Evaluation Engineers (SPEE), the Society of Exploration
Geophysicists (SEG), the Society of Petrophysicists and Well Log
Analysts (SPWLA) and the European Association of Geoscientists
& Engineers (EAGE).