Operational Update
New licence in the UK, Progress on Ukraine disposal
The Directors of Europa Oil & Gas (Holdings) plc (`Europa') are pleased to
announce that the DBERR has confirmed a further award (PEDL222) has been made
to Valhalla and Europa in the UK 13th Round of Licensing. This award is of an
exploration area in the East Midlands to the north of the Whisby Field and
includes the Torksey oil discovery and associated leads.
In a second development, Europa has entered into a Letter of Intent with an
undisclosed Swedish oil and gas company covering the proposed sale of Europa's
remaining assets in Ukraine. The Letter of Intent is designed to provide a
sufficient period of time to finalise title and other arrangements prior to the
sale. Europa wrote its Ukraine investments off its balance sheet in 2006.
Paul Barrett, Managing Director of Europa, said "We are pleased to be able to
report further strengthening of our East Midlands core asset base. Europa's
portfolio in the East Midlands now comprises three producing oilfields and 4
exploration licences, covering a gross area of approximately 900 square
kilometres and containing numerous leads and prospects. It is also satisfying
that the sale process for Ukraine is progressing."
For further information, please contact;
Paul Barrett Europa Oil & Gas (Holdings) plc 01235 553 266
Jonathan Wright Seymour Pierce 0207 107 8050
www.europaoil.com
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
Please note, this site uses cookies. Some of the cookies are essential for parts of the site to operate and have already been set. You may delete and block all cookies from this site, but if you do, parts of the site may not work. To find out more about the cookies used on Investegate and how you can manage them, see our Privacy and Cookie Policy
To continue using Investegate, please confirm that you are a private investor as well as agreeing to our Privacy and Cookie Policy & Terms.