Business
New Offshore Ireland Concession Map Published
New Offshore Ireland Concession Map Published.
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\n12 July 2016\n\nEuropa Oil & Gas (Holdings) plc (‘Europa’ or ‘the Company’)\n\nNew Offshore Ireland Concession Map Published\n\nEuropa Oil & Gas (Holdings) plc, the AIM listed oil and gas exploration, development and production company focused on Europe, is pleased to note that Ireland’s Department of Communications, Energy and Natural Resources (‘DCENR’) has published a new concession map reflecting the Phase 2 awards of the 2015 Atlantic Ireland licensing round. During Phase 2, Europa was awarded four new Licensing Options (‘LOs’) in the South Porcupine Basin, the Padraig Basin and the Slyne Basin, increasing the Company’s portfolio of licences offshore Ireland to seven. The map can be found on the DCENR website at: http://www.dcenr.gov.ie/natural-resources/SiteCollectionDocuments/Oil-and-Gas-Exploration-and-Production/A0_Concession_Map_Jul2016.pdf\n\nDetailed within this new concession map in the South Porcupine Basin are Europa’s Frontier Exploration Licence (‘FEL’) 2/13 and LO 16/19, which are bounded in the north by Capricorn Ireland Limited in LO 16/18 (a subsidiary of Cairn Energy) and to the east by Providence Resources in LO 16/27. Also in the South Porcupine, Europa’s FEL 3/13 and LO 16/2 are bounded to the south by Woodside Energy in LO 16/14, which has recently completed a 1,600 km2 3D seismic survey on this licence, and to the north by AzEire Limited in LO 16/17 and Petrel Resources in LO 16/25.\n\nAlso detailed on this new concession map in the Slyne Basin is Europa’s LO 16/21 which is bounded to the south by Faroe Petroleum (U.K.) Limited in LO 16/23 and Europa’s LO 16/20 which is bounded to the south by Predator Oil & Gas Ventures Limited in LO 16/26\n\nEuropa CEO Hugh Mackay said, “Our priority in the short term is to secure a farm-in partner for our South Porcupine licences with whom we can drill one or more of the drill-ready prospects we have already identified using our state of the art 3D seismic. Publication of this map is therefore important as it provides potential farminees with clarity on the licence holding situation. Many of our neighbours are strong companies who have already undertaken, or will be undertaking, significant explorati...