Business
Completion of Sale of Interest in UK Licence
Completion of Sale of Interest in UK Licence.
About this update from Europa Oil & Gas (holdings) Plc
[{"type":"text","content":"\n \nEuropa Oil & Gas (Holdings) plc / Index: AIM / Epic: EOG / Sector: Oil & Gas\n\n3 June 2019\n\nEuropa Oil & Gas (Holdings) plc (‘Europa’ or ‘the Company’)\n\nCompletion of Sale of Interest in UK Licence\n\nEuropa 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. \n\nAn 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 (“Admissionâ€).\n\nThe information communicated in this announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014.\n\n* * ENDS * *\n\nFor further information please visit www.europaoil.com or contact:\n\n\n\nHugh Mackay\nEuropa\n+ 44 (0) 20 7224 3770\n\n\n\nPhil Greenhalgh\nEuropa\n+ 44 (0) 20 7224 3770\n\n\n\nMatt Goode\nfinnCap Ltd\n+ 44 (0) 20 7220 0500\n\n\n\nSimon Hicks\nfinnCap Ltd\n+ 44 (0) 20 7220 0500\n\n\n\nCamille Gochez\nfinnCap Ltd\n+ 44 (0) 20 7220 0500\n\n\n\nFrank Buhagiar\nSt Brides Partners Ltd\n+ 44 (0) 20 7236 1177\n\n\n\nJuliet Earl\nSt Brides Partners Ltd\n+ 44 (0) 20 7236 1177\n\n\n\nNotes\n\nEuropa 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.\n\nEvaluation of hydrocarbon volumes has been assessed in accordance wi...