The acquisition has been undertaken with the support of The Royal Bank of Scotland plc (RBS), which has provided a loan for the majority of the purchase consideration.
Paul Barrett, Managing Director, said: "We are pleased to announce the successful acquisition of the Crosby Warren oil field which in conjunction with existing production in the UK, Romania and the Ukraine will add significantly to achieving our near term production target of 1,000 barrels of oil equivalent per day. The support of RBS is greatly appreciated and provides additional financial capability in executing our business plan."
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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