REG-Europa Oil & Gas (Holdings) Plc: Wressle Oil Field Planning Appeal Update

Europa Oil & Gas (Holdings)Announcement

29/07/2019 07:05

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

29 July 2019

Europa Oil & Gas (Holdings) plc (‘Europa’ or ‘the Company’)

Wressle Oil Field Planning Appeal Update

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 North Lincolnshire Council (‘the
Council’) has withdrawn its case in respect of the upcoming appeal against
the refusal of planning consent by the Council’s Planning Committee for the
development of the Wressle Oil Field (‘the Appeal’).  This follows a
closed meeting held on 17 July 2019 during which the Council elected not to
present evidence at the Public Inquiry that is scheduled to hear the Appeal on
5 November 2019.

Europa has a 30% working interest in licence PEDL 180 in the East Midlands
(‘the Licence’) which holds the Wressle oil discovery, alongside Egdon
(operator, 30%), Union Jack Oil (27.5%), and Humber Oil & Gas Limited (12.5%)
(together ‘the Partners’).

The withdrawal of the Council’s case in respect of the Appeal remains
subject to the agreement of acceptable planning conditions.   The Partners
welcome the Council’s decision and look forward to continuing supporting
Egdon, in its capacity as operator of the Licence, as it seeks to obtain
planning permission via appeal and prepares to present the case for the
development of the Wressle Oil Field to the independent professional Planning
Inspector in November 2019.  

The Wressle oil field 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).  Under the proposed development plan,
Wressle would commence production at an initial gross rate of 500bopd.  At
this rate, Europa’s existing UK onshore production would double to over
200bopd.

The information communicated in this announcement contains inside information
for the purposes of Article 7 of the Market Abuse Regulation (EU) No.
596/2014.

* * ENDS * *

For further information please visit www.europaoil.com or contact:

 Hugh Mackay      Europa                  + 44 (0) 20 7224 3770  
 Phil Greenhalgh  Europa                  + 44 (0) 20 7224 3770  
 Matt Goode       finnCap Ltd             + 44 (0) 20 7220 0500  
 Simon Hicks      finnCap Ltd             + 44 (0) 20 7220 0500  
 Camille Gochez   finnCap Ltd             + 44 (0) 20 7220 0500  
 Frank Buhagiar   St Brides Partners Ltd  + 44 (0) 20 7236 1177  
 Juliet Earl      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 2018 Europa produced 94
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.



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