16th Jan 2026 12:22
Europa Oil & Gas Holdings PLC - UK and Ireland-focused oil and gas exploration, development and production company - Announces that the North Sea Transition Authority has granted a two-year extension to the first phase of the PEDL343 licence, which holds Europa's 137bcf Cloughton discovery. Says the first phase will now expire on March 21, 2028, with the second phase expiring on July 21, 2030. Phase 1 work programme includes drilling a well to 6,500 feet TVDSS (true vertical depth below the subsea datum).
Chief Executive Officer William Holland comments: "I am very pleased that we have secured this extension which has provided us with the time needed to drill the appraisal well on the 137bcf Cloughton gas field. This onshore field is close to the [National Transmission System] and as such a successful appraisal well will allow the field to be brought online quickly." He adds that gas produced from Cloughton would "displace high [greenhouse gas] intensity imported [liquified natural gas]".
Current stock price: 1.81 pence, down 0.8% on Friday afternoon in London
12-month change: more than doubled from 0.88p on January 16, 2025
By Emma Curzon, Alliance News reporter
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