Europa Oil & Gas - MMHD Approval of Farm-out to Fuhai
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.
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For further information, please visit 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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