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EOG Europa Oil & Gas (holdings) Plc

1.00
0.00 (0.00%)
Last Updated: 08:00:00
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Europa Oil & Gas (holdings) Plc LSE:EOG London Ordinary Share GB00B03CJS30 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 1.00 0.95 1.05 1.00 1.00 1.00 2,396,065 08:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Oil And Gas Field Expl Svcs 6.65M -852k -0.0009 -11.11 9.57M

Europa Oil & Gas (Holdings) Plc Wressle Planning Appeal Update

13/07/2017 7:00am

UK Regulatory


 
TIDMEOG 
 
Europa Oil & Gas (Holdings) plc / Index: AIM / Epic: EOG / Sector: Oil & Gas 
 
13 July 2017 
 
          Europa Oil & Gas (Holdings) plc ('Europa' or 'the Company') 
 
                        Wressle Planning Appeal Update 
 
Europa Oil & Gas (Holdings) plc, the UK and Ireland focussed oil and gas 
exploration, development and production company, notes today's update from 
Egdon Resources ('Egdon') regarding its intention to appeal the decision of 
North Lincolnshire Council's Planning Committee of 3 July 2017 to refuse 
planning consent for the development of the Wressle Oil Field ('Wressle') on 
PEDLs 180 and PEDL 182 ('the Licences') for a second time.  Europa has a 30%* 
working interest in Wressle alongside Egdon (operator, 25%), Celtique Energie 
Petroleum Ltd (30%, after the sale of 3.33% to Union Jack Oil plc which is 
subject to OGA approval), and Union Jack Oil plc (15%, following the above 
sale). 
 
Notices advertising Egdon's intention to appeal will be displayed in the local 
parishes and published in the local paper over the coming week in accordance 
with planning law.  An appeal will be submitted without delay shortly 
afterwards. Egdon will also request that the Planning Inspectorate co-joins 
this new appeal with its appeal against the original refusal of planning 
permission of 11 January 2017.  The first appeal is currently scheduled for 
early November 2017. 
 
Egdon also advises that it will separately appeal the Council's decision of the 
3 July 2017 meeting to refuse application PA/2017/268 which requested a twelve 
month extension to the existing planning consent for the site at Wressle. 
 
Europa's CEO, Hugh Mackay, said: "Following a comprehensive consultation and 
evaluation process, both applications to develop Wressle were recommended for 
approval by the Council's Head of Development Management and Building Control, 
while an environmental permit from the Environment Agency for the proposed 
development of the site has already been issued.  The partners in the Licences 
believe the case for bringing Wressle into production is strong and we look 
forward to providing further updates on the appeal process in due course. 
 
"In the meantime, we were pleased to note that Providence Resources has begun 
drilling operations on the Druid and Drombeg prospects in the South Porcupine 
Basin offshore Ireland.  With the recent arrival of a number of major operators 
to the region, we believe this well will be the first of many to be drilled 
over the next few years.  Success at this or any other well in Atlantic Ireland 
will have positive read across for our industry-leading portfolio of licences 
offshore Ireland where we have already identified 32 prospects and leads in a 
diverse range of six play types and three basins across all seven of our 
licences." 
 
*On 24 November 2016, Europa announced it had signed a Sale and Purchase 
Agreement ('SPA') with Upland Resources (UK Onshore) Limited ('Upland') in 
relation to a 10% interest in PEDLs 180 and 182.  Completion of the SPA, which 
is subject to approval from the Oil & Gas Authority, would result in Europa 
retaining a 20% interest in the Licences. 
 
                                 * * ENDS * * 
 
For further information please visit www.europaoil.com or contact: 
 
Hugh Mackay       Europa                        + 44 (0) 20 7224 
                                                3770 
 
Phil Greenhalgh   Europa                        + 44 (0) 20 7224 
                                                3770 
 
Matt Goode        finnCap Ltd                   + 44 (0) 20 7220 
                                                0500 
 
Simon Hicks       finnCap Ltd                   + 44 (0) 20 7220 
                                                0500 
 
Emily Morris      finnCap Ltd                   + 44 (0) 20 7220 
                                                0500 
 
Frank Buhagiar    St Brides Partners Ltd        + 44 (0) 20 7236 
                                                1177 
 
Susie Geliher     St Brides Partners Ltd        + 44 (0) 20 7236 
                                                1177 
 
Notes 
 
Europa 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 2016 Europa produced 123 boepd.  Its 
highly prospective exploration projects include the Wressle development 
(targeting production start-up in early 2017 at up to 500 bopd gross) in the UK 
and seven licences offshore Ireland with the potential to host gross mean 
un-risked prospective and indicative resources of more than 4 billion barrels 
oil equivalent and 1.5 tcf gas across all seven licences. 
 
Qualified Person Review 
 
This release has been reviewed by Hugh Mackay, Chief Executive of Europa, who 
is a petroleum geologist with 30 years' experience in petroleum exploration and 
a member of the Petroleum Exploration Society of Great Britain, American 
Association of Petroleum Geologists and Fellow of the Geological Society. Mr 
Mackay has consented to the inclusion of the technical information in this 
release in the form and context in which it appears. 
 
 
 
END 
 

(END) Dow Jones Newswires

July 13, 2017 02:00 ET (06:00 GMT)

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