Europa Oil & Gas (Holdings) plc / Index: AIM / Epic: EOG / Sector: Oil & Gas
23 September 2013
Europa Oil & Gas (Holdings) plc (`Europa' or `the Company')
Update on Holmwood, Onshore UK
Europa Oil & Gas (Holdings) plc, the AIM listed oil and gas exploration and
development company with a combination of producing and exploration assets in
Europe, notes that, following the Company's successful High Court challenge on
25 July 2013 in relation to the drilling of a temporary exploratory well at the
Holmwood prospect (`Holmwood') in the PEDL143 licence in the Weald Basin, the
Leith Hill Action Group (`LHAG') submitted an appeal to the Court of Appeal
against the High Court decision on 19 September 2013.
As announced previously on 25 July 2013, Mr Justice Ouseley gave judgment in
favour of quashing the decision of the Secretary of State for Communities and
Local Government's appointed Inspector to dismiss an appeal by Europa against
Surrey County Council's refusal to grant planning permission to drill at the
Holmwood drillsite. LHAG was granted leave to appeal, to the Court of Appeal,
against his judgment. Further details regarding the appeal will be announced in
due course.
Europa's CEO, Hugh Mackay said, "Europa is an established hydrocarbon producer
and has extensive experience and a proven track record in operating onshore UK
sites. As a result, we believe we are well placed to drill a conventional
exploratory well at Holmwood and properly restore the site. We will therefore
continue to make every effort to obtain the necessary permissions that will
allow us to drill a temporary exploration well at Holmwood.
"Progress continues to be made elsewhere in our portfolio including the
continued acquisition of 3-D seismic by our partner Kosmos Energy in the South
Porcupine Basin, offshore Ireland, a year ahead of schedule. Meanwhile in the
UK, we will be participating in the drilling of the Wressle prospect later this
year which we rate as having a 1 in 3 chance of materially adding to our
existing production of 180boepd. I look forward to providing further updates to
the market in due course."
* * ENDS * *
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
Henrik Persson finnCap Ltd +44 (0) 20 7220 0500
Frank Buhagiar St Brides Media and Finance Ltd +44 (0) 20 7236 1177
Lottie Brocklehurst St Brides Media and Finance Ltd +44 (0) 20 7236 1177
Notes
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. The Company currently produces
approximately 180 boepd in the UK, generating sufficient revenues to cover
corporate overheads. Its highly prospective exploration projects include the
Wressle prospect in the UK where a well is due to be drilled later in 2013; and
a joint venture with leading independent Kosmos Energy to explore two licences
in offshore Ireland in which Europa has identified two prospects with estimated
gross mean un-risked indicative resources of 482 million barrels oil and 1.6
billion barrels oil respectively.
Europa holds a 40% interest in PEDL 143 alongside Egdon Resources (38.4%),
Altwood Petroleum (1.6%), and Warwick Energy (20%).
