Europa Oil & Gas (Holdings) plc (AIM:EOG) (EOG) said the Minister at the Irish Government's Department of Climate, Energy and the Environment has given consent to extend Phase 1 of FEL 4/19 to 31 January 2028.
The company intends to use the extension "to carry out further technical studies and allow more time to secure a partner to advance development of the licence," according to the filing.
Chief Executive Officer William Holland said: "I am delighted that our application has been granted and that we can continue with further technical studies of the licence and seeking a project partner." The company added FEL 4/19 contains the large 1.5 TCF, low risk Inishkea West gas prospect and said a discovery could be brought online quickly given proximity to existing infrastructure, reducing Ireland's reliance on imported gas and offering lower carbon emissions than imported supplies.
The company said the announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014, as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018, as amended. Europa is an AIM‑quoted oil and gas exploration, development and production company focused on the UK, Ireland and West Africa.
