17th Mar 2006 07:00
EUROPA OIL & GAS (HOLDINGS) PLC AWARD OF LICENCES IN WESTERN SAHARA Europa Oil & Gas (Holdings) plc ("Europa") is pleased to announce it has beenawarded exploration acreage in Western Sahara, situated between Mauritania andMorocco, Algeria and the Atlantic Ocean. The Western Saharan government hasbeen actively promoting oil and gas licensing to encourage modern explorationefforts in this under-explored territory.Europa has been awarded a 100% interest in two blocks in geologicallycontrasting areas, totaling approximately 80,000 km2 (equivalent to roughlyhalf of the licensed area of the UK Central and Northern North Sea): * the Bir Lahlou Block is located in the southern part of the Tindouf Basin, a Lower Palaeozoic basin system stretching northeastwards into Algeria. Although unexplored, it has similarities with the world-class Ghadames Lower Palaeozoic-sourced petroleum system in central Algeria. * the Hagunia Block encompasses a large area of the onshore part of the Atlantic margin coastal basin system. No significant exploration has taken place, though a promising Cretaceous deltaic package over 3km thick is present in the basin. Hydrocarbons have been discovered just to the north at Cap Juby and notably recently in Cretaceous sands in the north of Mauritania. Paul Barrett, Europa's Managing Director, said, "These are extremely largeexploration tracts and the strong similarities to nearby proven hydrocarbonsystems make this new venture a very exciting project. Substantial work will berequired to ready these areas for drilling, but we are confident that highquality prospects will emerge."Further information on the oil and gas activities in Western Sahara can beobtained on the government website, www.sadroilandgas.com.Further information on Europa can be obtained at www.europaoil.co.uk.For further information, please contact:Europa Oil & Gas (Holdings) plc +33 5 63 33 18 97 Paul Barrett Westhouse Securities LLP +44 161 838 9140 Tim Feather ENDEUROPA OIL & GAS (HOLDINGS) PLCRelated Shares:
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