16th May 2007 07:00
Europa Oil & Gas (Holdings) plc (`the Company' or `Europa') Credit Facility
The Directors of Europa Oil & Gas (Holdings) plc, the production and exploration company, are pleased to announce that the Royal Bank of Scotland (`RBS') has provided the Company with a credit facility of up to ‚£2 million for project work in the coming 12 months.
Paul Barrett, Managing Director of Europa, said "We are delighted with the support of RBS in providing this facility, which will be utilised on our planned activity this year, predominantly on our UK onshore assets."
Steve Mills, Senior Director, Oil & Gas at RBS, said "We are pleased that Europa has reached a level of maturity in its production portfolio to enable the bank to provide this facility and we wish Europa every success in its 2007 capital programme. We believe granting this facility demonstrates RBS's commitment to smaller E&P ventures in a sector dominated by much larger transactions."
About Europa Oil & Gas (Holdings) plc
Europa Oil & Gas (Holdings) plc focuses on the production and exploration of hydrocarbons in Europe and North Africa. Europa currently produces 600 barrels of oil equivalent per day from its operations in the UK, Romania and the Ukraine. Operating a balanced portfolio, Europa also has field appraisal and exploration activity on a number of projects in the UK and Romania and a strong new ventures programme across Europe and the North African region.
For more information please visit www.europaoil.com
For further information, contact:
Paul Barrett, Managing Director, Europa Oil & Gas +33 5 63 33 18 97
Jonathan Wright or Parimal Kumar, Seymour Pierce +44 20 7107 8000
EUROPA OIL & GAS (HOLDINGS) PLCRelated Shares:
Europa Oil & Gas