Europa Oil & Gas (Holdings) plc is an AIM-listed exploration and production company focused on building a balanced portfolio of producing, appraisal and exploration assets in West Africa, the UK, and Atlantic Ireland, with minimal emissions.
Europa’s objective is to participate actively in the national energy transition to sustainable renewables. The UK Government recognises that delivering a low-carbon future will be achieved by protecting infrastructure already present in the UK Continental Shelf through continued activity. Hydrocarbons are considered a key pillar of the UK Government’s Energy Security Strategy, with domestic production of oil and gas projects continuing to garner strong support.
The UN has forecast a global oil supply gap during transition to net zero and finding additional domestic reserves is essential to reduce UK imports and global emissions, providing greater accountability and transparency of emissions to accelerate net zero.
Europa is well-placed to continue its exploration, production and appraisal of existing onshore and offshore UK assets, alongside the Company’s project in Ireland, whilst total average net production of approximately 114 barrels of oil per day is achieved from current UK onshore field production. Wressle contributes roughly 82% of this and the remainder comes from the two older fields operated by Europa.
Also in the UK, the Cloughton gas field appraisal project is ongoing, with planning for an appraisal well submitted in March 2025, and a planning decision expected before the year end.
Through its 42.9% stake in Antler Global Limited, Europa also holds an interest in the EG-08 licence in Equatorial Guinea, for which a farm-out process was launched in late 2024. Detailed commercial discussions are currently underway with a non-binding Heads of Terms signed with a major energy company regarding the farm-out of an interest in the EG-08 production sharing contract (PSC). This is a highly prospective licence with three drill-ready prospects which contain an estimated Mean Prospective resource of 1.48 TCF of gas equivalent. A further six leads and prospects contribute an estimated 0.72 TCF, bringing the total mean prospective resource to 2.2 TCF of gas equivalent. The chance of success is high (estimated at 80% for Barracuda) due to direct hydrocarbon indications on the seismic.
In offshore Ireland, Europa holds a 100% interest in Licence FEL 4-19 which contains the Inishkea West gas prospect, with an estimated Pmean prospective resource of 1.5 TCF.
Run by a highly experienced Board and management team with an extensive knowledge of the oil and gas sector and a proven track record of project monetisation, Europa remains focused on generating substantial shareholder value.