Europa Oil & Gas (Holdings) Plc Wressle Development Granted Planning Consent

 
TIDMEOG 
 
Europa Oil & Gas (Holdings) plc / Index: AIM / Epic: EOG / Sector: Oil & Gas 
 
17 January 2020 
 
          Europa Oil & Gas (Holdings) plc ('Europa' or 'the Company') 
 
            Wressle Development Granted Planning Consent on Appeal 
 
Europa Oil & Gas (Holdings) plc, the UK and Ireland focused oil and gas 
exploration, development and production company, notes today's update from 
Egdon Resources ('Egdon') that the Planning Inspectorate has today upheld the 
appeal and granted planning consent for the development of the Wressle Oil 
Field in North Lincolnshire licences PEDL180 and PEDL182 ('the Licences').  The 
Inspector also allowed the application for an award of costs against North 
Lincolnshire Council.  Europa has a 30% working interest in the Licences, 
alongside Egdon (operator, 30%), Union Jack Oil (27.5%), and Humber Oil & Gas 
Limited (12.5%) (together 'the Partners'). 
 
Work will now begin on discharging the planning conditions and the detailed 
planning for the development works at the Wressle oil field which was 
discovered in 2014 by the Wressle-1 well.  During testing, a total of 710 
barrels of oil equivalent per day were recovered from three separate 
reservoirs, the Ashover Grit, the Wingfield Flags and the Penistone Flags.  In 
September 2016, a Competent Person's Report provided independent estimates of 
reserves and contingent and prospective oil and gas resources for the Wressle 
discovery of 2.15 million stock tank barrels classified as discovered (2P+2C). 
 
Simon Oddie, Chairman of Europa, said: "The granting of planning consent for 
the development of the Wressle oil field is a milestone event for Europa. 
Under the development plan, Wressle is expected to commence production at an 
initial gross rate of 500bopd, which would more than double Europa's existing 
UK onshore production to over 200bopd.  With this in mind, we look forward to 
working with our partners in the Licences to discharge the planning conditions 
and bring Wressle into production at the earliest opportunity." 
 
                                 * * ENDS * * 
 
For further information please visit www.europaoil.com or contact: 
 
Simon Oddie       Europa                        + 44 (0) 20 7224 
                                                3770 
 
Phil Greenhalgh   Europa                        + 44 (0) 20 7224 
                                                3770 
 
Christopher       finnCap Ltd                   + 44 (0) 20 7220 
Raggett                                         0500 
 
Simon Hicks       finnCap Ltd                   + 44 (0) 20 7220 
                                                0500 
 
Frank Buhagiar    St Brides Partners Ltd        + 44 (0) 20 7236 
                                                1177 
 
Megan Dennison    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 2019 Europa produced 91 boepd. Its 
highly prospective exploration projects include the Wressle development in the 
UK (targeting production start-up in 2020 at 500 bopd gross) and six licences 
offshore Ireland with the potential to host gross mean un-risked prospective 
resources of 6.4 billion barrels oil equivalent and 1.5 tcf gas across all six 
licences. The Company's flagship project offshore Ireland is the Inishkea 
prospect - a near field gas exploration project with 1.5 trillion cubic feet 
('TCF') gross mean un-risked prospective gas resources. 
 
 
 
END 
 

(END) Dow Jones Newswires

January 17, 2020 10:25 ET (15:25 GMT)