Following the allotment the total number of shares in issue will be 61,522,666 ordinary shares. Application will be made for the new shares to be admitted to AIM. It is expected that dealings in the new shares will commence on 14th November 2006.
Ewen Ainsworh, Finance Director, said "This is a prime example of why we have the share finance facility in place; to enable Europa to take advantage of unexpected opportunities. In this case, we are purchasing a producing oilfield which will have immediate cash flow."
Europa Oil & Gas (Holdings) plc focuses on the production and exploration of hydrocarbons in Europe and North Africa. Europa currently produces over 500 barrels of oil equivalent per day from its operations in the UK, Romania and the Ukraine. Operating a balanced portfolio, Europa also has field appraisal and exploration activity on a number of projects in the UK and Romania and a strong new ventures program across Europe and the North African region.
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