REG - Europa Oil & Gas - EG-08 PSC Phase 1 Extension

Europa Oil & Gas (Holdings)Announcement

06/10/2025 07:00

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RNS Number : 1668C  Europa Oil & Gas (Holdings) PLC  06 October 2025

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

 

6 October 2025

 

Europa Oil & Gas (Holdings) plc

("Europa" or the "Company")

 

EG-08 PSC Phase 1 Extension

 

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, in accordance with the exploration periods and
their extensions set out in Article 2 of the EG-08 production sharing contract
("PSC"), as well as with the PSC amendments recognised in Articles 29.1 and 9
of the Hydrocarbons Law the Minister of Hydrocarbons and Mining Development
for Equatorial Guinea ("EG") has granted a 12-month extension to the initial
2-year period of the PSC. Europa has a 42.9% equity interest in Antler Global
Limited ("Antler"), which holds an 80% working interest in the EG-08 PSC, with
the remaining 20% held by GEPetrol (Guinea Equatorial de Petróleos), the
national oil and gas company of Equatorial Guinea, representing the State's
interest. The formalities to finalise the extension are ongoing and are
expected to be completed in the coming days. As a result of the extension, the
first sub-period of Phase 1 of the PSC will expire on 4 October 2026.

 

As announced on 15 September 2025, the EG-08 block contains 2.196 TCF (Pmean),
with the primary prospect being Barracuda which is estimated to be 878 BCF
(Pmean).

 

William Holland, Chief Executive Officer of Europa, said:

 

"I am pleased to have secured the Ministers approval for this extension which
will provide plenty of time to finalise the farm out process for EG-08, where
we continue to make good progress. Concurrently, the technical team are
working on detailed engineering plans for drilling the Barracuda prospect,
which we hope to spud in 2026."

 

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 / Anna Stacey                      Vigo Consulting                            +44 (0) 20 7390 0230

 

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