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