REG - Europa Oil & Gas - PEDL343 (Cloughton) Extension

Europa Oil & Gas (Holdings)Announcement

16/01/2026 07:00

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RNS Number : 1233P  Europa Oil & Gas (Holdings) PLC  16 January 2026

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

 

16 January 2026

 

Europa Oil & Gas (Holdings) plc

("Europa" or the "Company")

 

PEDL343 (Cloughton) 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 the Oil and Gas Authority (now officially referred
to as the North Sea Transition Authority, (the "NSTA")) has granted a 2-year
extension to the first phase of the PEDL343 licence which holds the Company's
137bcf Cloughton discovery. As a result of the extension the first phase of
the licence will now expire on 21 March 2028 and the second phase will expire
on 21 July 2030.

 

The work programme during the first phase of the PEDL343 licence includes:

-      Acquire 17km(2) 3D seismic

-      Drill a well to 6,500 ft TVDSS(1)

 

William Holland, Chief Executive Officer of Europa, said:

"I am very pleased that we have secured this extension which has provided us
with the time needed to drill the appraisal well on the 137bcf Cloughton gas
field. This onshore field is close to the NTS(2) and as such a successful
appraisal well will allow the field to be brought online quickly. The domestic
gas produced from Cloughton would not only displace high GHG(3) intensity
imported LNG(4), generate well paid local jobs, provide gas to heat almost
half of the homes in North Yorkshire and generate over £50m in taxes, but
importantly it would largely be unnoticed by the local community yet provide a
material positive impact to local community groups, as demonstrated at our
other onshore UK production sites."

 

 

* * 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                      Vigo Consulting                            +44 (0) 20 7390 0230

 

 

( )

(1) TVDSS - True Vertical Depth below the Sub Sea datum.

(2) NTS - National Transmission System

(3) GHG - Green House Gas

(4) LNG - Liquified Natural Gas

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