Business
Transfer of interest in FEL 2/13 and 3/13
Transfer of interest in FEL 2/13 and 3/13.
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\n13 June 2016\n\nEuropa Oil & Gas (Holdings) plc (‘Europa’ or ‘the Company’)\n\n Transfer of interest in and operatorship of FEL 2/13 and 3/13 offshore Ireland\n\nEuropa Oil & Gas (Holdings) plc, the AIM listed oil and gas exploration, development and production company focused on Europe, is pleased to announce that consent has been received from the Irish Minister of Energy for the transfer of interest in and operatorship of, Frontier Exploration Licences (‘FEL’) 2/13 and 3/13 from Kosmos Energy Ireland. Europa now has 100% interest in, and is operator of seven licences in the Atlantic basins offshore Ireland.\n\nAs announced on 8 June 2016, Europa’s portfolio of seven offshore Ireland licences is estimated to hold combined gross mean un-risked prospective and indicative resources of up to 4 billion barrels of oil equivalent and 1.5 tcf of gas in various prospects in the Cretaceous fan and pre-rift plays. For clarity, prospective resources are by definition potentially recoverable. Europa is currently running a data room to farm-out interests in FEL 2/13, FEL 3/13 and LO 16/2. The response from target companies, majors and midcaps has been positive to date and the confirmation of the transfer of interest in the two FELs removes a potential obstacle to the farm-out.\n\nEuropa CEO Hugh Mackay said, “We believe that the North Atlantic contains two of the world’s exploration ‘hotspots’. One is in the Flemish Pass basin offshore Newfoundland and the other is offshore West Ireland. We are delighted that major oil companies have returned to Ireland’s Porcupine basin. We are focused on finding a suitable partner with whom we can look to prove our existing licenses via the drill bit. With this in mind, I look forward to providing updates on our progress.â€\n\n* * ENDS * *\n\nFor further information please visit http://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\nFrank Buhagiar\nSt Brides Partners Ltd\n+ 44 (0) 20 7236 1177\n\n\n\nSusie Geliher\nSt Brides Partners Ltd\n+ 44 (0) 20 7236 1177\n\n\n\nNote...