REG - Europa Oil & Gas - Serenity Update

Europa Oil & Gas (Holdings)Announcement

04/10/2023 07:15

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RNS Number : 6005O  Europa Oil & Gas (Holdings) PLC  04 October 2023

 

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

 

4 October 2023

 

Europa Oil & Gas (Holdings) plc

("Europa" or the "Company")

 

Serenity Update

 

Europa Oil & Gas (Holdings) plc, the AIM traded UK and Ireland focused oil
and gas exploration, development, and production company, notes the
announcement made today by i3 Energy PLC (AIM:I3E) (TSX:ITE) regarding the
Serenity oil discovery in the Outer Moray Firth area of the North Sea, in
which Europa holds a 25% interest.

 

i3 Energy, operator of Serenity, and partner Europa, have been notified that
the licence for the Tain discovery (previously held by RSRUK and Rockrose
Energy) recently lapsed and that the Tain acreage is therefore unlicenced and
available to be re-licenced in the future.

 

Europa have been working with i3 for some time as the partners looked to
advance a solution for the Blake / Tain / Serenity area but this has made
little progress whilst the previous Tain licensees were unable to approve
additional investment. With the acreage now unlicenced, additional options for
the area may now come available and i3 and Europa are commencing discussions
with the NSTA and other interested parties to explore the remaining potential
of the wider area.

 

* * 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
 James Dance / James Spinney                       Strand Hanson Limited - Nominated & Financial Adviser      +44 (0) 20 7409 3494
 Peter Krens                                       Tennyson Securities                                        +44 (0) 20 7186 9033
 Patrick d'Ancona / Finlay Thomson / Kendall Hill  Vigo Consulting                                            + 44 (0) 20 7390 0230

 

Notes to Editors

Europa Oil & Gas (Holdings) plc has a diversified portfolio of multi-stage
hydrocarbon assets which includes production, development and exploration
interests, in countries that are politically stable, have transparent
licensing processes, and offer attractive terms. Average production for the
6-month period ending 31 January 2023 was 268 bopd. Europa took over
operatorship of PEDL 343 in July 2023; this contains the Cloughton discovery
which has an unaudited GIIP of Pmean 192 BCF, established by summing the
volumes of 5 separate discovered horizons. In April 2022, Europa farmed into
P.2358, Block 13/23c ("Serenity") in the Outer Moray Firth area of the North
Sea. The licence contains the 2019 Serenity oil discovery, in which Europa has
a 25% interest. The Company holds one exploration licence offshore Ireland,
which has two principal prospects, the largest of which has the potential to
host gross mean un-risked prospective resources of 1.5 trillion cubic feet
("tcf") gas. Inishkea West is a near field gas prospect in the Slyne Basin
which the Company classifies as lower risk due to its close proximity to the
producing Corrib gas field and associated gas processing infrastructure.

 

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