REG - Europa Oil & Gas - Wressle - Receipt of Planning Approval

Europa Oil & Gas (Holdings)Announcement

16/09/2024 07:00

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RNS Number : 2289E  Europa Oil & Gas (Holdings) PLC  16 September 2024

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

 

16 September 2024

 

Europa Oil & Gas (Holdings) plc

("Europa" or the "Company")

 

Wressle - Receipt of Planning Approval

 

Europa Oil & Gas (Holdings) plc, the AIM quoted UK, Ireland and West
Africa focused oil and gas exploration, development and production company, is
pleased to announce that planning consent has been received from North
Lincolnshire Council for the further development of the Wressle well site. The
approved works will include extending the existing site to accommodate the
drilling of two new wells and construction of gas processing facilities and an
underground gas pipeline to connect Wressle to the local gas distribution
network. The Wressle field is located in onshore licences PEDL180 and PEDL182,
situated in North Lincolnshire.

 

Will Holland, Chief Executive Officer of Europa, said:

 

"I am very pleased that we have now received the planning permission for the
continued development of Wressle. The development programme at Wressle will
increase the oil production and monetise the associated gas from the field,
which will result in zero routine flaring at site. Domestic production
accounts for less than 50% of demand in the UK, yet this provides economic and
environmental benefits when compared to imports.

 

The UK is increasingly reliant on imports as domestic production continues to
decline and I believe that domestic production has a vital role to play in the
UK as we progress towards the Net Zero 2050 target. I look forward to updating
the market further as the Wressle partners continue to progress the field
development."

 

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.

 

* * ENDS * *

 

For further information, please visit www.europaoil.com
(http://www.europaoil.com/)  or contact:

 

 William Holland                                                 Europa Oil & Gas (Holdings) plc            mail@europaoil.com

 Samantha Harrison / Ciara Donnelly / Elliot Peters              Grant Thornton UK LLP - Nominated Adviser  +44 (0) 20 7383 5100

 Peter Krens                                                     Tennyson Securities                        +44 (0) 20 7186 9033

 Patrick d'Ancona / Finlay Thomson / Kendall Hill / Anna Stacey  Vigo Consulting                            +44 (0) 20 7390 0230

 

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