Europa Acquires Irish Licences, Seeks Farm-Ins
AIM-listed Europa Oil & Gas is seeking farm-in partners for Frontier Exploration Licences, having had approval from the Irish energy minister to acquire two – 2/13 and 3/13 – from Kosmos Energy, it said June 13. It now has 100% interest in, and is operator of, seven licences offshore Ireland.
Europa’s portfolio is estimated to hold combined gross mean un-risked prospective and indicative resources of up to 4bn barrels of oil equivalent and 1.5 trillion ft³ of gas in various prospects in the Cretaceous fan and pre-rift plays.
Europa is running a data room to farm out interests in FEL 2/13, FEL 3/13 and LO 16/2. The response from target companies, majors and midcaps has been positive to date and the confirmation of the transfer of interest in the two FELs removes a potential obstacle to the farm-out, it said.
Europa CEO Hugh Mackay said, “We believe that the North Atlantic contains two of the world’s exploration ‘hotspots’. One is in the Flemish Pass basin offshore Newfoundland and the other is offshore West Ireland.”
William Powell