2nd Mar 2016 09:21
LONDON (Alliance News) - Europa Oil & Gas (Holdings) PLC on Wednesday said it has identified three large oil prospects in its southern Porcupine Basin licences offshore Ireland.
Europa said it has found three pre-rift prospects in the LO 16/2 licence area.
Last month, Europa said it had received confirmation from the Irish Department of Communications, Energy & Natural Resources that it has secured a 100% interest in the LO 16/2 licence for two years, starting on Tuesday.
Europa now will undertake additional technical work on the licence area to progress the prospects to the drilling stage.
Europa shares were up 3.2% to 4.00 pence on Wednesday morning.
By Sam Unsted; [email protected]; @SamUAtAlliance
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