UK junior Europa Oil & Gas reported Tuesday that its two 100-percent held permits in the Aquitaine Basin, onshore France, have not been renewed within the set timeframes of the country’s renewal process. Consequently the permits, Bearn des Gaves and Tarbes Val d’Adour, are deemed to have lapsed, the firm added.
Europa said that it intends to appeal this outcome for both permits and has submitted appeals for each permit to the relevant French authorities. Unless the appeals are successful, the firm will have to write off GBP 1.2 million exploration costs that it has spent on the permits.
Europa CEO Hugh Mackay commented in a company statement:
"The Minister of Ecology, Sustainable Development and Energy is required to provide final sign-off for all exploration permits in France and we note there was a change of Minister during the renewal process. Our appeal for both permits to be renewed has been submitted to the new Minister and we will be seeking a resolution as a matter of priority.
"Progress continues to be made across our licences which include production and exploration in the UK as well as high impact exploration offshore Ireland. In the UK, we will be drilling the Wressle Prospect later this year while in offshore Ireland, a 3D seismic acquisition programme on Frontier Exploration Licences 2/13 and 3/13 in which Europa holds a 15-permit interest is currently being undertaken by Kosmos Energy, the operator."
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