REG - Europa Oil & Gas - Board Changes

Europa Oil & Gas (Holdings)Announcement

15/03/2023 07:15

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RNS Number : 9837S  Europa Oil & Gas (Holdings) PLC  15 March 2023

 

Europa Oil & Gas (Holdings) plc / Index: AIM / Epic: EOG / Sector: Oil
& Gas

 

15 March 2023

 

Europa Oil & Gas (Holdings) plc

("Europa" or the "Company")

 

Board Changes

 

The Board of Europa Oil & Gas (Holdings) plc (the "Board") announces that
Mr Simon Oddie, Chief Executive Officer since August 2020 and Executive
Director since November 2019, has decided to retire as Chief Executive
Officer. Mr Oddie will remain on the Board as a Non-Executive Director. Mr
William Holland moves from the role of Chief Financial Officer to Chief
Executive Officer with immediate effect.

 

Brian O'Cathain, Chairman of Europa, commented: "On behalf of the Board, I
would like to thank Simon for his service to the Company as Chief Executive
Officer. Simon was appointed to the Board initially as Non-Executive Chairman
in January 2018 before becoming Interim Chief Executive Officer and Executive
Chairman in November 2019 and then Chief Executive Officer in August 2020. I
am pleased that Simon will remain as a Non-Executive Director to ensure a
smooth handover and enable business continuity going forward. I would also
like to welcome Will Holland as the new Chief Executive Officer. Will has been
Chief Finance Officer and on the Board since April 2022 and has already been
able to make a significant contribution to Europa. Will has the skills
required to continue to grow and expand the business as we look to create
further value for our shareholders."

 

Simon Oddie commented: "I believe this is the right time to pass the baton to
Will following a very busy period of real change for Europa. As CEO I have
overseen a re-balancing of Europa's portfolio, notably with first oil and
ongoing production at the Wressle field, the addition of a third leg to our
business by securing a late-stage appraisal project at Serenity and further
progress on the exploration position in the proven gas play of the Slyne Basin
offshore Ireland. I look forward to continuing to help grow the business in a
non-executive capacity."

 

Will Holland commented: "I am delighted to be taking on the role of CEO at
this exciting time and look forward to realising the further potential of our
assets, whilst both accelerating the growth and maintaining the balance within
the business."

 

The information communicated in this announcement contains inside information
for the purposes of Article 7 of the Market Abuse Regulation (EU) No.
596/2014, as it forms part of UK Domestic Law by virtue of the European Union
(Withdrawal) Act 2018, as amended.

 

* * ENDS * *

For further information, please visit www.europaoil.com
(http://www.europaoil.com/)  or contact:

 Simon Oddie / William Holland / Murray Johnson    Europa Oil & Gas (Holdings) plc                            mail@europaoil.com
 James Dance / James Spinney                       Strand Hanson Limited - Nominated & Financial Adviser      +44 (0) 20 7409 3494
 Peter Krens                                       Tennyson Securities                                        +44 (0) 20 7186 9033
 Patrick d'Ancona / Finlay Thomson / Kendall Hill  Vigo Consulting                                            + 44 (0) 20 7390 0230

 

Notes to Editors

Europa Oil & Gas (Holdings) plc has a diversified portfolio of multi-stage
hydrocarbon assets which includes production, development and exploration
interests, in countries that are politically stable, have transparent
licensing processes, and offer attractive terms. Production for the year
ending 31 July 2022 was 245 bopd. In April 2022, Europa farmed into P.2358,
Block 13/23c ("Serenity") in the Outer Moray Firth area of the North Sea. The
licence contains the 2019 Serenity oil discovery, in which Europa now has a
25% interest. The Company holds one exploration licence offshore Ireland,
which has the potential to host gross mean un-risked prospective resources of
1.5 trillion cubic feet ("tcf") gas. Inishkea is a near field gas prospect in
the Slyne Basin which the Company classifies as lower risk due to its close
proximity to the producing Corrib gas field and associated gas processing
infrastructure.

 

 

 

 

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