Europa Oil & Gas (Holdings) PLC Wressle - Receipt of Planning Approval
16 September 2024 - 8:00AM
RNS Regulatory News
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 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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