REG - Europa Oil & Gas - MMHD Approval of Farm-out to Fuhai

Europa Oil & Gas (Holdings)Announcement

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RNS Number : 1304G  Europa Oil & Gas (Holdings) PLC  29 May 2026

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

 

29 May 2026

 

Europa Oil & Gas (Holdings) plc

("Europa" or the "Company")

 

MMHD Approval of Farm-out to Fuhai

 

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 received approval from the Ministry for Mining and
Hydrocarbons Department of Equatorial Guinea ("MMHD") required to complete the
Farm-out Agreement ("FOA") with Fuhai, as detailed in the announcement dated
30 December 2026. The deal remains subject to Overseas Direct Investment
("ODI") approval from the Shandong Provincial government.

 

Europa has a 42.9% equity interest in Antler which, on completion of the FOA,
will hold a 40% working interest in the EG-08 PSC, and remain as operator,
with 40% held by Fuhai and the remaining 20% held by GEPetrol (Guinea
Equatorial de Petróleos), the national oil company of Equatorial Guinea,
representing the State's interest.

 

The Company expects to drill the Barracuda-1 well at the earliest opportunity,
which is expected to be during early 2027.

 

William Holland, Chief Executive Officer of Europa, said:

"I am pleased to have received approval from the Ministry and I would like to
thank the team at MMHD for their ongoing support as we progress this project
to drilling. Alongside our partners at Fuhai, we have been working hard to
assemble the drilling team needed to spud the Barracuda-1 well at the earliest
opportunity. Once we have received ODI approval, we will then be able to
secure a rig. 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 / Anna Sutton / Safia Colebrook    Vigo Consulting                            +44 (0) 20 7390 0230

 

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