EG-08 Farm-out update

Europa Oil & Gas (Holdings) plc / Index: AIM / Epic: EOG / Sector: Oil & Gas

4 August 2025

Europa Oil & Gas (Holdings) plc

("Europa" or the "Company")

EG-08 Farm-out updateCommercial negotiations advance with signing of Head of Terms

Europa Oil & Gas (Holdings) plc, the AIM quoted West Africa, UK and Ireland focused oil and gas exploration, development and production company, is pleased to announce that its associated company, Antler Global Limited ("Antler"), has entered into detailed commercial discussions and has signed a non-binding Heads of Terms with a major energy company to farm-out an interest in the EG-08 production sharing contract ("PSC") in offshore Equatorial Guinea. Europa has a 42.9% equity interest in Antler which in turn holds an 80% working interest in the EG-08 PSC, with the remaining 20% held by GEPetrol (Guinea Equatorial de Petróleos), the national oil company of Equatorial Guinea, representing the State's interest.

There is no guarantee that these commercial discussions will lead to a legally binding agreement(s) relating to the farm-out and any agreement(s) would be subject to approval from the Minister for Energy of Equatorial Guinea.

Europa will provide further updates on the progress of the commercial discussions in due course.

As announced on the 22 July 2024, the EG-08 block contains 2.116 TCF (Pmean), with the primary prospect being Barracuda which is estimated to be 798 BCF (Pmean).

William Holland, Chief Executive Officer of Europa, said:

"The signing of these heads of terms is a very positive step forward and comes after an extensive period of negotiations with what we believe is an excellent partner. Although there are no guarantees, I am confident that we will progress to signing a farm out agreement in the coming months and will then move to drilling the Barracuda well as soon as possible thereafter. I look forward to updating the market of our progress in due course."

Market Abuse Regulation (MAR) Disclosure

The information contained within this announcement is deemed to constitute inside information as stipulated under the retained EU law version of the Market Abuse Regulation (EU) No. 596/2014 (the "UK MAR") which is part of UK law by virtue of the European Union (Withdrawal) Act 2018. The information is disclosed in accordance with the Company's obligations under Article 17 of the UK MAR. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

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