Wressle - Receipt of Planning Approval

Europa Oil & Gas (Holdings) PLC

16 September 2024

 

Europa Oil & Gas (Holdings) plc / Index: AIM / Epic: EOG / Sector: Oil & Gas

16 September 2024

Europa Oil & Gas (Holdings) plc

("Europa" or the "Company")

Wressle - Receipt of Planning Approval

Europa Oil & Gas (Holdings) plc, the AIM quoted UK, Ireland and West Africa focused oil and gas exploration, development and production company, is pleased to announce that planning consent has been received from North Lincolnshire Council for the further development of the Wressle well site. The approved works will include extending the existing site to accommodate the drilling of two new wells and construction of gas processing facilities and an underground gas pipeline to connect Wressle to the local gas distribution network. The Wressle field is located in onshore licences PEDL180 and PEDL182, situated in North Lincolnshire.

Will Holland, Chief Executive Officer of Europa, said:

"I am very pleased that we have now received the planning permission for the continued development of Wressle. The development programme at Wressle will increase the oil production and monetise the associated gas from the field, which will result in zero routine flaring at site. Domestic production accounts for less than 50% of demand in the UK, yet this provides economic and environmental benefits when compared to imports.

The UK is increasingly reliant on imports as domestic production continues to decline and I believe that domestic production has a vital role to play in the UK as we progress towards the Net Zero 2050 target. I look forward to updating the market further as the Wressle partners continue to progress the field development."

The information contained within this announcement is deemed to constitute inside information as stipulated under the retained EU law version of the Market Abuse Regulation (EU) No. 596/2014 (the "UK MAR") which is part of UK law by virtue of the European Union (Withdrawal) Act 2018. The information is disclosed in accordance with the Company's obligations under Article 17 of the UK MAR. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

* * ENDS * *

For further information, please visit www.europaoil.com or contact:

William Holland	Europa Oil & Gas (Holdings) plc	[e-mail]
Samantha Harrison / Ciara Donnelly / Elliot Peters	Grant Thornton UK LLP - Nominated Adviser	[phone]
Peter Krens	Tennyson Securities	[phone]
Patrick d'Ancona / Finlay Thomson / Kendall Hill / Anna Stacey	Vigo Consulting	[phone]

 

END