Europa Oil & Gas (Holdings) PLC Award of UK Licences

 
TIDMEOG 
 
Europa Oil & Gas (Holdings) plc / Index: AIM / Epic: EOG / Sector: Oil & Gas 
 
17 December 2015 
 
          Europa Oil & Gas (Holdings) plc ('Europa' or 'the Company') 
 
              Award of Licences in 14th Landward Licensing Round 
 
Europa Oil & Gas (Holdings) plc, the AIM listed oil and gas exploration, 
development and production company focused on Europe, is pleased to note the 
announcement on 17 December 2015 by the Oil and Gas Authority, the UK oil and 
gas regulator, confirming the conditional award of licences in the 14th UK 
Landward Licensing Round.  To view a map of the new licences please click here. 
 
 
Highlights 
 
*   Awarded interest in three onshore licences building on the existing 
portfolio 
 
*   New partner groups have a wealth of experience and resources 
 
*   Europa assigned operatorship of one licence - Third Energy and Ineos 
operators of two of the other licences 
 
 
Blocks SE72 and SE73 
 
This is a two block licence located in the Humber Area, north of Goole in the 
Cleveland Basin. The Group has identified three conventional hydrocarbon leads 
in the Carboniferous section. The licence is considered to host a 
north-westerly structural continuation of the oil prone Crosby Warren - Wressle 
trend where Europa Oil & Gas Limited operates the Crosby Warren oil field and 
is a partner in the recent Wressle oil discovery.  Block SE72 and SE73 partners 
are: 
 
Europa Oil & Gas Limited               50.00% (operator) 
 
Shale Petroleum (UK) Limited           50.00% 
 
 
Block SK46c 
 
This is a one block licence to the west of Mansfield in the East Midlands 
Petroleum Province. The exploration emphasis is the rejuvenation of the 
historic Hardstoft oil field, which was first drilled in 1919 and produced 
26,000 barrels of oil from Dinantian Carbonates. The Company believes that a 
modern high angle well in the Hardstoft structure could access reserves over a 
much larger area than can have been seen by the original wells. 
 
An independent Competent Person's Report ("CPR") prepared by Blackwatch 
Petroleum Services Limited ("Blackwatch") on behalf of Upland Resources 
estimates there to be 3.10 MMbbl of contingent resource plus 3.65 MMbbl 
prospective resource in the broader Hardstoft structure alone, all sitting in 
Block SK46c and on a 'best' or central case basis. Blackwatch further estimates 
the chance of success for the contingent resource at 80% and 64% for the 
prospective resource.   Block SK46c partners are: 
 
Europa Oil & Gas Limited               16.66% 
 
Ineos Upstream Limited                 50.00% (operator) 
 
Shale Petroleum (UK) Limited           16.66% 
 
Upland Resources (UK Onshore) Limited  16.67% 
 
Reflecting the differing exploration emphases of the partners, the above 
interests will apply to all conventional oil and gas plays in the Block, Ineos 
will have all the rights and obligations relating to unconventional oil and gas 
plays ('shale gas' and 'shale oil'). Block SK36a will be 100% Ineos. 
 
 
Blocks SE99a and TA09 
 
This licence is located in the Cleveland Basin north of Scarborough. The 
primary objective is to appraise, with a view to develop, the Cloughton 
prospect, previously drilled by Bow Valley exploration well Cloughton-1 in 
1986. The Cloughton-1 well had significant gas shows in Zechstein and 
Carboniferous sections and flowed gas from Carboniferous sandstones under 
production test. There are also technical synergies with block 41/24 in the 
nearby offshore and recently conditionally awarded to Europa and Arenite in the 
28th Seaward Licensing Round second tranche of offers.  Block SE99a and TA09 
partners are: 
 
Europa Oil & Gas Limited               22.50% 
 
Shale Petroleum (UK) Limited           22.50% 
 
Third Energy UK Gas Limited            20.00% (operator) 
 
Egdon Resources U.K. Limited           17.50% 
 
Petrichor Energy UK Limited            12.50% 
 
Arenite Petroleum Limited              5.00% 
 
 
Europa CEO Hugh Mackay said, "We are delighted to build on our portfolio of UK 
onshore assets with the award of these three new licences.  The new awards 
comprise a mix of field rejuvenation, appraisal and exploration assets and 
build on our technical and commercial experience in the East Midlands and 
Cleveland Basin. Whilst the new blocks are predominantly prospective for 
conventional oil and gas there is some unconventional prospectivity. All our 
new licences have strong partner groups and we are excited by the opportunity 
to take these new assets forward. 
 
"As we advance our existing projects, including the commencement of production 
at the Wressle discovery in H2 2016 and the farm-out of FEL 3/13 offshore 
Ireland, where a CPR identified 1.49 billion barrels of oil equivalent across 
three prospects, it is important we replenish our portfolio with new leads and 
prospects which have significant reserve and production growth potential.  I 
look forward to providing further updates on our progress." 
 
 
About our partners 
 
Europa Oil & Gas Limited is a wholly owned subsidiary of AIM-listed Europa Oil 
& Gas (Holdings) plc and is an experienced and successful operator onshore UK. 
www.europaoil.com 
 
Shale Petroleum (UK) Limited is a wholly owned subsidiary of Shale Petroleum 
Ltd, a successful and proactive, privately owned upstream oil & gas company 
registered in Canada. www.shalepetroleum.com 
 
Ineos Upstream Limited is a wholly owned subsidiary of Ineos, a global 
manufacturer of petrochemicals, speciality chemicals & oil products with sales 
of $54 billion and operations in 65 countries. www.ineos.com 
 
Arenite Petroleum Limited is a privately owned upstream E&P company registered 
in Scotland www.arenitepetroleum.com 
 
Egdon Resources plc is an independent onshore focused oil and gas exploration 
and production business www.egdon-resources.com/ 
 
Third Energy UK Gas Limited is an independent company with a focus on gas 
appraisal and development www.third-energy.com/ 
 
Petrichor Energy UK Limited is part of HEYCO Energy Group, a U.S. holding 
company with subsidiaries and affiliates active in upstream oil and gas 
operations in the US and Europe  www.heycoenergy.com http://www.heycoenergy.com 
/content/operations/international/ 
 
                                 * * ENDS * * 
 
For further information please visit www.europaoil.com or contact: 
 
Hugh Mackay          Europa                              + 44 (0) 20 7224 3770 
 
Phil Greenhalgh      Europa                              + 44 (0) 20 7224 3770 
 
Matt Goode           finnCap Ltd                         + 44 (0) 20 7220 0500 
 
Simon Hicks          finnCap Ltd                         + 44 (0) 20 7220 0500 
 
Frank Buhagiar       St Brides Partners Ltd              + 44 (0) 20 7236 1177 
 
Lottie Brocklehurst  St Brides Partners Ltd              + 44 (0) 20 7236 1177 
 
Notes 
 
Europa Oil & Gas (Holdings) plc has a diversified portfolio of multi-stage 
hydrocarbon assets that includes production, exploration and development 
interests, in countries that are politically stable, have transparent licensing 
processes, and offer attractive terms.  In 2015 Europa produced 141 boepd.  Its 
highly prospective exploration projects include the Wressle development 
(targeting production startup in H2 2016 at up to 500 bopd gross) in the UK; 
100% owned gas exploration prospect (107 bcf) and appraisal project (CPR 277 
bcf) in onshore France a joint venture with Vermillion Energy also in onshore 
France; and two licences offshore Ireland with the potential to host gross mean 
un-risked Prospective Resources of approximately 2 billion barrels across both 
licences. Europa Oil & Gas Limited is a wholly owned subsidiary of the Company. 
 
Qualified Person Review 
 
This release has been reviewed by Hugh Mackay, Chief Executive of Europa, who 
is a petroleum geologist with 30 years' experience in petroleum exploration and 
a member of the Petroleum Exploration Society of Great Britain, American 
Association of Petroleum Geologists and Fellow of the Geological Society. Mr 
Mackay has consented to the inclusion of the technical information in this 
release in the form and context in which it appears. 
 
 
 
END
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