Europa Oil & Gas (Holdings) Plc Update on Wressle Development Public Inquiry

 
TIDMEOG 
 
Europa Oil & Gas (Holdings) plc / Index: AIM / Epic: EOG / Sector: Oil & Gas 
 
8 November 2019 
 
          Europa Oil & Gas (Holdings) plc ('Europa' or 'the Company') 
 
            Update on Wressle Oil Field Development Public Inquiry 
 
Europa Oil & Gas (Holdings) plc, the UK and Ireland focused oil and gas 
exploration, development and production company, notes today's update from 
Egdon Resources ('Egdon') regarding the Public Inquiry into the proposed 
development of the Wressle oil field in the East Midlands which concluded 
yesterday. 
 
As previously announced, North Lincolnshire Council presented no evidence at 
the inquiry, which was held in Scunthorpe to consider Egdon's appeal against 
the refusal of planning consent by the Council's Planning Committee for the 
development of the Wressle Field ('the Appeal').  As a result, the Wressle 
Development Public Inquiry, which commenced on 5 November 2019 and included a 
site visit, lasted three days rather than the scheduled six days. 
 
Due to the Planning Inspectorate purdah arising from the UK general election, 
Egdon expects a verdict on the Appeal post the election date of 12 December 
2019, potentially before the end of the year.  In addition to the Appeal, an 
application for costs has been submitted by Egdon on behalf of all the partners 
in Wressle.  Europa has a 30% working interest in licence PEDL 180 ('the 
Licence') which holds the Wressle oil discovery, alongside Egdon (operator, 
30%), Union Jack Oil (27.5%), and Humber Oil & Gas Limited (12.5%) (together 
'the Partners'). 
 
The Wressle oil field was discovered in 2014 by the Wressle-1 well.  During 
testing, a total of 710 barrels of oil equivalent per day were recovered from 
three separate reservoirs, the Ashover Grit, the Wingfield Flags and the 
Penistone Flags.  Under the proposed development plan, Wressle would commence 
production at an initial gross rate of 500bopd, which would more than double 
Europa's existing UK onshore production to over 200bopd. In September 2016, a 
Competent Person's Report provided independent estimates of reserves and 
contingent and prospective oil and gas resources for the Wressle discovery of 
2.15 million stock tank barrels classified as discovered (2P+2C). 
 
The information communicated in this announcement contains inside information 
for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014. 
 
                                 * * 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 
 
Christopher Raggett finnCap Ltd                 + 44 (0) 20 7220 
                                                0500 
 
Simon Hicks         finnCap Ltd                 + 44 (0) 20 7220 
                                                0500 
 
Camille Gochez      finnCap Ltd                 + 44 (0) 20 7220 
                                                0500 
 
Frank Buhagiar      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 2019 Europa produced 91 boepd. Its 
highly prospective exploration projects include the Wressle development in the 
UK (targeting production start-up in 2020 at 500 bopd gross) and six licences 
offshore Ireland with the potential to host gross mean un-risked prospective 
resources of 6.4 billion barrels oil equivalent and 1.5 tcf gas across all six 
licences. The Company's flagship project offshore Ireland is the Inishkea 
prospect - a near field gas exploration project with 1.5 trillion cubic feet 
('TCF') gross mean un-risked prospective gas resources. 
 
 
 
END

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November 08, 2019 02:00 ET (07:00 GMT)

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