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LON:EOG
Europa Oil & Gas (Holdings) plc is an exploration and production company focused on developing its balanced portfolio of assets in the North Sea, Atlantic Ireland and West Africa, supported by revenue from onshore oil production in the UK.
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A glance at the smallcap stories on the Proactive newswire today
A look at some of the biggest London-listed risers and fallers today
The Wressle partners are confident that the Environment Agency’s comprehensive assessment and positive conclusion will be reflected in the outcome of the new planning application.”
Concerns over "the Donald" appear to be easing, and investors took the opportunity to return to equity markets
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A glance at the stories on the Proactive newswire today.
Analyst Julie Simmonds at broker Panmure Gordon said: “No negative or positive read through on the likely outcome of the trial can be made from the statement”
With around an hour and a half of trading to go in London, the FTSE 100 was up about 11 points at 7,308, holding off the day’s peak of 7,322
The Edgeworth and Ervine exploration prospects in the wholly owned Licence Option (LO) 16/2 are estimated at 251mln and 302mln barrels respectively - taking the tally of Europa's pre-drill Irish oil potential to 4.7bn barrels.
BP saw its first-quarter profits jump by more than expected, while Shell also put up big numbers.
It is part of a 'dual track' approach - which also includes an already submitted appeal to North Lincolnshire County Council's original denial in January.
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A look back at the week’s highlighted news for junior oilers
Herencia Resources is a high riser among London's small caps today as it prepares a drill plan to enhance its copper projects
An investigation of the deeper prospectivity within Frontier Exploration Licence (FEL) 2/13 has uncovered four more significant exploration prospects which take the asset's potential to 1.12bn barrels - meanwhile, farm-out talks continue wi
The FTSE 100 closed at 7,237 as the European Central Bank announced its latest policy decision
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A glance at some of the stories on the Proactive newswire today
Cairn takes over as operator of LO 16/19, which spans 976 square kilometres on the Western flank of the South Porcupine Basin, offshore Ireland.
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A glance at some of the stories on the Proactive newswire today
The 'multi-client' Crean 3D seismic adds to a potentially high impact summer exploration campaign in the waters off Ireland's west coast.
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A look back at the week’s highlighted news for junior oilers
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A glance at some of the stories on the Proactive newswire today
Chief executive Hugh Mackay believes the case to bring Wressle into production is strong.
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A glance at some of the stories on the Proactive newswire today
Europa’s CEO, Hugh Mackay said: “The remainder of 2017 will see Europa participate in high impact development and exploration projects for which our share of the costs is now funded”
Main share price risers and fallers at 3pm: Hague and London, Flowtech Fluidpower, Nanoco
Europa’s CEO, Hugh Mackay said: “The remainder of 2017 will see Europa participate in high impact development and exploration projects for which our share of the costs is now funded”
FTSE set to rise by fifteen points when the market opens
Risers and fallers in London at 3,30pm: Prophotonix, Interquest, Surgical Innovations
PEDL 343, in the Cleveland basin, is deemed by Europa as an appraisal asset.
FTSE 100 shares closed lower on Tuesday after investors turned edgy over Brexit plans which hit banking and retail shares as well as took sterling to an 8-week low against the US dollar
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A look back at the week’s highlighted news for junior oilers
Europa shares shot up 25.9% to 5.98p, while Providence shares climbed 7.3% to 16.36p.
Some of the top rises and falls in London at 3.30pm: Restaurant Group, Inmarsat, Graphene Nanochem
“We are delighted to have secured a farm-in partner of the proven calibre of Cairn, and also to accelerate exploration on the licence through the acquisition of 3D seismic this summer," said Hugh Mackay, Europa chief executive.
Cairn will partner Providence Resources in an exploration well offshore Ireland this summer and will lead a 3D seismic programme alongside Europa Oil & Gas.
The onshore UK focussed junior oil is taking a bigger stake in the Wressle field which, depending upon a planning appeal, could yield 500 barrels of oil production per day.
The deal to sell 10% of Wressle to Upland Resources was agreed in November, and it has now been extended until the end of September 2017.
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“Wressle is located in the heart of the East Midlands petroleum province and at an anticipated gross rate of 500 bopd would almost double our existing production based on a 20% interest,” said Hugh Mackay, Europa chief executive.
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“As the operator of the nearby Brockham oil field, Angus can provide invaluable technical insights in tandem with our other partners including UKOG, a major stakeholder in the Horse Hill discovery."
“I am very pleased that the OGA has approved Upland UK's increased stake in PEDL 299,” said Steve Staley, Upland Resources chief executive.
The rejection goes against the recommendation of the council's own planning officer, and City broker SP Angel suggests that councillors have overstepped their remit.
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“We will now take time to consider our options including our right to bring forward an appeal."
In the first-half of next year UKOG will move 11 miles along the road from Horse Hill to the PEDL234 licence area
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Activity is picking up onshore UK, said Hugh Mackay, the oil and gas group’s chief executive.
UKOG probably won’t be the first cab off the block as a number of rivals are planning similar exploration programmes.
Broadford Bridge, which like Horse Hill has been estimated to host billions of barrels of oil, is one of a number of new projects planned for 2017 that aim to replicate the standout success of the 'Gatwick Gusher'.
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Europa’s remaining stake in Wressle is valued at £3.7mln by this latest deal.
Subsequently Europa Oil & Gas retains 30% of Wressle, and UJO’s interest in the project rises to 11.67%.
The explorer wants to talk to interested parties about Wilde, which could be drilled for just US$37mln and is just one part of a 1.5bn barrels inventory with FEL 3/13.
Europa's final results to end July showed a strong performance in the face of what are well documented challenges
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Europa and Upland each own 25% of Hardstoft, alongside partner INEOS.
“We will continue to mature our Irish portfolio with the intention of delivering half a dozen drill-ready prospects," said chief executive Hugh Mackay.
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Mackay said: "we feel that Horse Hill is a very relevant well, there is good technical read across and it is certainly making us feel better about the prospect of finding hydrocarbons at Holmwood."
"We are delighted to be able to increase our position in Wressle as it is an attractive near term production asset," said David Bramhill, Union Jack Oil chairman.
Europa earmarks £600,000 from the sale for the Holmwood project near Horse Hill and plans drilling in 2017
Condor Gold continues to develop its La India gold, North River Resourcess to critically assess its Namib lead-zinc project, and MySQUAR's Hawk Hero game has continued to sell well.
CEO Hugh Mackay highlighted that Wressle will not only more than double net production it also substantially increases Europa’s asset backing.
Wressle is being fast-tracked to production following a successful exploration well which delivered excellent flow testing results last summer.
Whilst the Padraig Basin play is currently at an early exploration stage and at the higher risk end of the exploration spectrum, we have a work programme to de-risk this evolving play," Hugh Mackay said.
Thor Mining announces a new drill campaign, Metal Tiger confirms copper mineralisation and ServicePower unveils three new partnerships.
Thor Mining announces a new drill campaign, Metal Tiger confirms copper mineralisation and ServicePower unveils three new partnerships.
Europa increases its interests in projects operated by INEOS and Third Energy.
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A look at some of last week's developments in the small cap oil and gas sector
OptiBiotix Health appoints director of business, African Potash signs a deal with a distributor in Zambia and Proton Power Systems unveils a business overhaul.
The extension allows Europa to mature existing prospects and perform detailed mapping, whilst seeking a partner for the next phase.
London shares closed lower on Monday, as the month started with dire manufacturing output data to set a bad tone for the week as mid-caps fall below Brexit levels, again
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The FTSE 100 Index lost hold of a 25-point gain to stand 17.5 points adrift at lunchtime
Europa has outlined some 1.5 trillion cubic feet of potential gas resources in the vicinity of Ireland's landmark Corrib gas field, which finally came online earlier this year.
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SolGold's shares surged after it announced a fund-raising, which is not the way things usually go, MySQUAR's shares tumbled after it announced it was issuing shares.
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The FTSE 100 Index lost hold of a 25-point gain to stand 7.9 points ahead at 6732.29
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The shares put on another spurt and are now up 57% year-to-date
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Round up of this week's oil news from the world of Proactive.
Mirada’s pipeline continues to grow; LGO sees its reserve and resource estimates rise; Europa has some positive news and its recently acquired licences; plus much more…
The price of a barrel of Brent crude declined 2.1% to US$46.61
“Europa has prime acreage in what is clearly an exploration hotspot," Hugh Mackay said.
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“Europa has a leading position in offshore west Ireland with seven high impact licences," Mackay highlights.
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The round up of this week's news from the world of oil.
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Low-cost currency provider FairFX enjoyed its best ever week last week thanks to heightened trading activity amid the UK’s EU referendum vote.
Extending the licence to October 1 2018 allows a proposed drill programme to go ahead, Europa highlighted.
The project is located in the vicinity of the Wressle oil field and Union Jack highlighted recent successes have significantly reduced geological risk.
Following the Kosmos exits to FEL 2/13 and FEL 3/13, and the successful new licensing round Europa now has 100% of seven exploration areas offshore Ireland.
The new licensing round not only brought in the industry’s big names and put the spotlight on Irish exploration, but, significantly for Europa it has allowed a substantial increase in its portfolio.