REG - Europa Oil & Gas - Director Change

Europa Oil & Gas (Holdings)Announcement

27/04/2023 07:00

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RNS Number : 5862X  Europa Oil & Gas (Holdings) PLC  27 April 2023

 

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

 

27 April 2023

 

Europa Oil & Gas (Holdings) plc

("Europa" or the "Company")

 

Director Change

 

Europa Oil & Gas (Holdings) plc, the AIM traded UK and Ireland focused oil
and gas exploration, development, and production company, announces that Mr
William Ahlefeldt has informed the Board of his intention to retire as a
director of Europa with immediate effect.

 

Mr Ahlefeldt has served as a director of Europa since 2004 and has played a
crucial role during his time on the Board. He was instrumental in bringing the
Company to the AIM Market of the LSE in 2004 and he remains one of Europa's
largest shareholders. As an experienced petroleum engineer, he has provided
technical leadership on the Board throughout his tenure. In addition, he has
provided significant financial support to the Company on several occasions.

 

Following Mr Ahlefeldt's retirement, the Board will comprise two executive
directors and three non-executive directors. The Board believes that this
composition of directors provides a well-balanced commercial, technical and
financial skill set to deliver on the existing strategy and govern the
business appropriately, as such it is not intended to replace Mr Ahlefeldt at
this time.

 

Brian O'Cathain, Chairman of Europa, said:

 

"I would like to thank William for his many years of loyal service and
invaluable contribution to Europa. William has been a valued member of the
Board, and we wish him every success in the future."

 

William Ahlefeldt, said:

 

"It has been an honour to sit on the Board of Europa and be part of the
Company from its initial flotation on AIM through to the success of the
Wressle field. I have great faith in the new executive management team and
intend to remain a loyal shareholder."

 

 

* * ENDS * *

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

 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. Average production for the
6-month period ending 31 January 2023 was 268 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 two principal prospects, the largest of 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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