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Europa Oil & Gas Holdings PLC

Europa Oil & Gas nearing news on Irish farm-outs and new Morocco project

Hugh Mackay, chief executive of Europa Oil & Gas Holdings plc (LON:EOG), elaborates on talks that are ongoing with a major international oil company over a potential farm-out - of interests in the LO 16/20 (which hosts Inishkea), FEL 1/17 (Edgeworth) and FEL 3/13 (Beckett, Shaw and Wilde) exploration areas - adding that he's confident a deal can be concluded in the coming months.

Mackay says such a deal would see Europa’s costs fully carried on a well for each area, and, the company would retain a “material” interest in the assets too.

Elsewhere, Europa's looking to Morocco for new opportunities.

It's presently in the final stages of discussions with ONHYM, the National Office of Hydrocarbons and Mines, to secure a petroleum agreement.

Quick facts: Europa Oil & Gas Holdings PLC

Price: £0.02

Market: AIM
Market Cap: £10.23 m
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Full interview: Europa Oil & Gas's Hugh Mackay details new Morocco acreage

Europa Oil & Gas Holdings PLC's (LON:EOG) Hugh Mackay speaks to Proactive London's Andrew Scott after announcing they've expanded their portfolio adding new exploration acreage in the Agadir basin offshore Morocco. Europa's been awarded an eight-year licence for the Inezgane area, which...

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