AIM-listed independent Europa Oil & Gas said June 19 it has received a two-year extension by the Irish government of its phase 1 Frontier Exploration Licences (FEL) 2/13 and 3/13 until July 4 2019.
Dublin also approved an application to convert Licensing Option 16/2 to FEL 1/17. Europa has 100% in all three South Porcupine basin licences, offshore Ireland.
Europa CEO Hugh Mackay said, “As a consequence of our recent oversubscribed placing for £2.1mn with new and existing institutions and our very well subscribed open offer raising a further £1.3mn, we are fully funded to undertake all our work programmes in Atlantic Ireland immediately and concurrently. Together with the anticipated start-up of exploration drilling elsewhere in the South Porcupine these are exciting times for Atlantic Ireland and for Europa in particular. We look forward to providing our investors further updates as the story evolves.”
Earlier this month Total signed deals to operate two deepwater South Porcupine blocks offshore southwest Ireland, farming into Providence/Sosina interests. Cairn farmed into a Europa block in the same area in March 2017. The blocks could have gas or oil prospects.