REG - Europa Oil & Gas - EG-08 Farm-out update

Europa Oil & Gas (Holdings)Announcement

Mon 07:00

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RNS Number : 7986T  Europa Oil & Gas (Holdings) PLC  04 August 2025

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

 

4 August 2025

 

Europa Oil & Gas (Holdings) plc

("Europa" or the "Company")

 

EG-08 Farm-out update

Commercial negotiations advance with signing of Head of Terms

 

Europa Oil & Gas (Holdings) plc, the AIM quoted West Africa, UK and
Ireland focused oil and gas exploration, development and production company,
is pleased to announce that its associated company, Antler Global Limited
("Antler"), has entered into detailed commercial discussions and has signed a
non-binding Heads of Terms with a major energy company to farm-out an interest
in the EG-08 production sharing contract ("PSC") in offshore Equatorial
Guinea. Europa has a 42.9% equity interest in Antler which in turn holds an
80% working interest in the EG-08 PSC, with the remaining 20% held by GEPetrol
(Guinea Equatorial de Petróleos), the national oil company of Equatorial
Guinea, representing the State's interest.

 

There is no guarantee that these commercial discussions will lead to a legally
binding agreement(s) relating to the farm-out and any agreement(s) would be
subject to approval from the Minister for Energy of Equatorial Guinea.

 

Europa will provide further updates on the progress of the commercial
discussions in due course.

 

As announced on the 22 July 2024, the EG-08 block contains 2.116 TCF (Pmean),
with the primary prospect being Barracuda which is estimated to be 798 BCF
(Pmean).

 

William Holland, Chief Executive Officer of Europa, said:

"The signing of these heads of terms is a very positive step forward and comes
after an extensive period of negotiations with what we believe is an excellent
partner. Although there are no guarantees, I am confident that we will
progress to signing a farm out agreement in the coming months and will then
move to drilling the Barracuda well as soon as possible thereafter. I look
forward to updating the market of our progress in due course."

 

Market Abuse Regulation (MAR) Disclosure

 

The information contained within this announcement is deemed to constitute
inside information as stipulated under the retained EU law version of the
Market Abuse Regulation (EU) No. 596/2014 (the "UK MAR") which is part of UK
law by virtue of the European Union (Withdrawal) Act 2018. The information is
disclosed in accordance with the Company's obligations under Article 17 of the
UK MAR. Upon the publication of this announcement, this inside information is
now considered to be in the public domain.

 

 

* * ENDS * *

 

 

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

 

 William Holland                                                 Europa Oil & Gas (Holdings) plc            mail@europaoil.com

 Samantha Harrison / Ciara Donnelly / Elliot Peters              Grant Thornton UK LLP - Nominated Adviser  +44 (0) 20 7383 5100

 Peter Krens                                                     Tennyson Securities                        +44 (0) 20 7186 9033

 Patrick d'Ancona / Finlay Thomson / Kendall Hill / Anna Stacey  Vigo Consulting                            +44 (0) 20 7390 0230

 

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