Business
Award of Licences
Award of Licences.
About this update from Europa Oil & Gas (holdings) Plc
[{"type":"text","content":"\n \n EUROPA OIL & GAS (HOLDINGS) PLC \n\n AWARD OF LICENCES IN WESTERN SAHARA \n\nEuropa Oil & Gas (Holdings) plc (\"Europa\") is pleased to announce it has been\nawarded exploration acreage in Western Sahara, situated between Mauritania and\nMorocco, Algeria and the Atlantic Ocean. The Western Saharan government has\nbeen actively promoting oil and gas licensing to encourage modern exploration\nefforts in this under-explored territory.\n\nEuropa has been awarded a 100% interest in two blocks in geologically\ncontrasting areas, totaling approximately 80,000 km2 (equivalent to roughly\nhalf of the licensed area of the UK Central and Northern North Sea):\n\n * the Bir Lahlou Block is located in the southern part of the Tindouf Basin,\n a Lower Palaeozoic basin system stretching northeastwards into Algeria.\n Although unexplored, it has similarities with the world-class Ghadames\n Lower Palaeozoic-sourced petroleum system in central Algeria.\n \n * the Hagunia Block encompasses a large area of the onshore part of the\n Atlantic margin coastal basin system. No significant exploration has taken\n place, though a promising Cretaceous deltaic package over 3km thick is\n present in the basin. Hydrocarbons have been discovered just to the north\n at Cap Juby and notably recently in Cretaceous sands in the north of\n Mauritania.\n \nPaul Barrett, Europa's Managing Director, said, \"These are extremely large\nexploration tracts and the strong similarities to nearby proven hydrocarbon\nsystems make this new venture a very exciting project. Substantial work will be\nrequired to ready these areas for drilling, but we are confident that high\nquality prospects will emerge.\"\n\nFurther information on the oil and gas activities in Western Sahara can be\nobtained on the government website, www.sadroilandgas.com.\n\nFurther information on Europa can be obtained at www.europaoil.co.uk.\n\nFor further information, please contact:\n\nEuropa Oil & Gas (Holdings) plc +33 5 63 33 18 97\n \nPaul Barrett \n \nWesthouse Securities LLP +44 161 838 9140\n \nTim Feather\n ","length":2528,"tagName":"div"}]