Europa Completes FEL 2/13, 3/13 Acquisition

Europa Oil & Gas (Holdings) plc now has a 100 percent interest in, and operatorship of, Frontier Exploration Licenses (‘FEL’) 2/13 and 3/13 after the Irish Minister of Energy granted consent for the transfer of ownership from Kosmos Energy Ireland.

Following the latest acquisition, Europa now holds seven wholly-owned licenses in the Atlantic basins offshore Ireland. This portfolio is estimated to hold combined gross mean un-risked prospective and indicative resources of up to 4 billion barrels of oil equivalent and 1.5 trillion cubic feet of of gas in various prospects in the Cretaceous fan and pre-rift plays

“We believe that the North Atlantic contains two of the world’s exploration hotspots,” said Europa CEO Hugh Mackay in a company statement.

“One is in the Flemish Pass basin offshore Newfoundland and the other is offshore West Ireland. We are delighted that major oil companies have returned to Ireland’s Porcupine basin. We are focused on finding a suitable partner with whom we can look to prove our existing licenses via the drill bit. With this in mind, I look forward to providing updates on our progress,” he added.

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