Europa Oil & Gas (Holdings) Plc - Planning Update for Holmwood Well in the Weald Basin
London, July 23
Europa Oil & Gas (Holdings) plc / Index: AIM / Epic: EOG / Sector: Oil & Gas
24 July 2018
Europa Oil & Gas (Holdings) plc (‘Europa’ or ‘the Company’)
Planning Update for Holmwood Exploration Well in the Weald Basin
Europa Oil & Gas (Holdings) plc, the UK and Ireland focused exploration, development and production company, is pleased to provide a planning update regarding the Holmwood conventional oil exploration prospect in the Weald Basin (‘Holmwood’) on Licence PEDL 143 at Bury Hill Wood, Coldharbour Lane, Surrey. Europa Oil & Gas Limited is operator of PEDL 143 in which it holds a 20% interest.
Europa will today submit a planning application to Surrey County Council seeking a Variation of conditions 3 and 19 (i) of Appeal Decision APP/YB3600/A/11/2166561, to extend the temporary period of the permission for the well site by a further 3 years and to remove the requirement for the scheme to include an identified HGV holding area. It has also applied today for two other associated planning applications – for the underground drilling corridor and for the temporary security fence, which is to be erected around the well site.
Europa also confirms that the Oil and Gas Authority has extended the Initial Term of Licence for PEDL 143 until 30 September 2020.
The Environment Agency granted a mining waste permit number EPR/YP3735YK on 23 July 2018. The permit authorises the management of extractive wastes not involving a waste facility to allow the drilling and testing of a single well for the purposes of onshore oil and gas exploration. The Environment Agency has also granted a radioactive substances regulation permit and an oil storage permit (both Standard Rules).
Europa is the operator of PEDL 143, in which it holds a 20% interest, alongside UK Oil & Gas Investments plc 40%, Egdon Resources plc 18.4%, Angus Energy plc 12.5%, Union Jack Oil plc 7.5% and Altwood Petroleum 1.6%. Following farm-outs to Union Jack Oil and Angus Energy, Europa is fully carried on its remaining 20% share of the exploration well costs up to a cap of £3.2 million.
The information communicated in this announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014.
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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|
|Emily Morris||finnCap Ltd||+ 44 (0) 20 7220 0500|
|Frank Buhagiar||St Brides Partners Ltd||+ 44 (0) 20 7236 1177|
|Susie Geliher||St Brides Partners Ltd||+ 44 (0) 20 7236 1177|
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 2017 Europa produced 113 boepd. Its highly prospective exploration projects include the Wressle development in the UK (targeting production start-up in 2019 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 2.5 tcf undiscovered GIIP across all six licences.