24th Feb 2014 11:10
LONDON (Alliance News) - Europa Oil & Gas PLC said Monday that its 100% owned permit for Tarbes Val d'Adour in onshore France has been extended to January 18 2015.
The permit contains several oil accumulations that had previously been licensed by Elf Aquitaine, now Total S.A, but had been abandoned in 1985 due to technical issues and low oil prices.
"In tandem with our on-going farm-out discussions for the Bearn des Gaves permit, we will now look to secure partner with whom we can look to advance Tarbes in the limited time available," said Chief Executive Officer Hugh Mackay in a statement.
Shares in Europa were trading up 0.7% at 7.93 pence Monday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
Copyright © 2014 Alliance News Limited. All Rights Reserved.
Related Shares:
Europa Oil & Gas