Europa Formally Accepts 4 New Licenses in Atlantic Margin Round
Europa Oil & Gas (Holdings) plc confirmed Wednesday that it has formally accepted the award of four new Licensing Options as part of phase two of the 2015 Atlantic Ireland licensing round.
The oil and gas exploration and production firm received LO 16/19, LO 16/20. LO 16/21 and LO 16/22 in the latest licensing round, located in the South Porcupine, Slyne and Padraig basins, respectively. LO 16/19 has the potential to hold up to 1 billion barrels of oil equivalent gross mean un-risked indicative resources.
“I am delighted to confirm award of four new Licensing Options and to provide investors with some more technical background regarding the licenses. I hope that investors can now begin to understand how important this license round has been for Europa’s ongoing corporate development,” said Europa CEO Hugh Mackay in a company statement.
“All our licences have the potential to be high impact and each one could be a company maker for Europa in the event of drilling success. Europa is potentially exposed to 4 billion barrels of oil equivalent and 1.5 trillion cubic feet of gross mean un-risked indicative and prospective resources across the seven licenses.”
WHAT DO YOU THINK?
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
- Europa Oil & Gas Completes Shale Petroleum UK Acquisition (Aug 15)
- Europa Relinquishes Part of PEDL 181 (Jul 04)
- Europa Granted 2 Year Extension to PEDL 143 (Jun 27)