3rd Jun 2016 12:24
LONDON (Alliance News) - Oil and gas operator Europa Oil & Gas Holdings PLC on Friday said it has been offered four new licensing options as part of the second phase of the 2015 Atlantic Ireland licensing round.
The round covers licences in the southern Porcupine Basin, the Padraig Basin and the Slyne Trough.
Europa said it understands it will soon be issued with a formal offer letter for the licensing options by the Irish Department of Communications, Energy and Natural Resources, at which point the company will confirm its acceptance of the options.
"We are delighted with the offer of four licensing options in phase two of the 2015 Atlantic Ireland round against strong competition and further building our Irish licence portfolio. Subject to formal award, we will have a diversified portfolio of seven high impact exploration licences across three basins in offshore Ireland and representing a range of geological risk, hydrocarbon plays and exploration maturity," said Europa Chief Executive Hugh Mackay.
Europa shares were up 8.8% to 4.35 pence on the news.
By Sam Unsted; [email protected]; @SamUAtAlliance
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