Business
EG-08 PSC Phase 1 Extension
Europa Oil & Gas has received a 12-month extension from Equatorial Guinea's Minister of Hydrocarbons and Mining Development for the initial two-year period of the EG-08 production sharing contract (PSC). This extension means the first sub-period of Phase 1 of the PSC will now expire on 4 October 2026. Europa holds a 42.9% equity interest in Antler Global Limited, which possesses an 80% working interest in the EG-08 PSC. The EG-08 block is estimated to contain 2.196 TCF (Pmean), with the Barracuda prospect estimated at 878 BCF (Pmean). The company aims to finalize the farm out process for EG-08 and is working on engineering plans to potentially drill the Barracuda prospect in 2026. Disclaimer*
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 \n6 October 2025\n \nEuropa Oil & Gas (Holdings) plc\n(\"Europa\" or the \"Company\")\n \nEG-08 PSC Phase 1 Extension\n \nEuropa Oil & Gas (Holdings) plc, the AIM quoted West Africa, UK and Ireland focused oil and gas exploration, development and production company, is pleased to announce that, in accordance with the exploration periods and their extensions set out in Article 2 of the EG-08 production sharing contract (\"PSC\"), as well as with the PSC amendments recognised in Articles 29.1 and 9 of the Hydrocarbons Law the Minister of Hydrocarbons and Mining Development for Equatorial Guinea (\"EG\") has granted a 12-month extension to the initial 2-year period of the PSC. Europa has a 42.9% equity interest in Antler Global Limited (\"Antler\"), which holds an 80% working interest in the EG-08 PSC, with the remaining 20% held by GEPetrol (Guinea Equatorial de Petróleos), the national oil and gas company of Equatorial Guinea, representing the State's interest. The formalities to finalise the extension are ongoing and are expected to be completed in the coming days. As a result of the extension, the first sub-period of Phase 1 of the PSC will expire on 4 October 2026.\n \nAs announced on 15 September 2025, the EG-08 block contains 2.196 TCF (Pmean), with the primary prospect being Barracuda which is estimated to be 878 BCF (Pmean).\n \nWilliam Holland, Chief Executive Officer of Europa, said:\n \n\"I am pleased to have secured the Ministers approval for this extension which will provide plenty of time to finalise the farm out process for EG-08, where we continue to make good progress. Concurrently, the technical team are working on detailed engineering plans for drilling the Barracuda prospect, which we hope to spud in 2026.\"\n \nMarket Abuse Regulation (MAR) Disclosure\n \nThe information contained within this announcement is deemed to constitute inside information as stipulated under the retained EU law version of the Market Abuse Regulation (EU) No. 596/2014 (the \"UK MAR\") which is part of UK law by virtue of the European Union (Withdrawal) Act 2018. The information is disclosed in accordance with the Company's obligations under Article 17 of the UK MAR. Upon the publication of this...