Europa Oil & Gas (Holdings), the AIM-listed explorer focused on West Africa, the UK and Ireland, has extended the deadline for completing its EG-08 farm-out in Equatorial Guinea to 31 July, as it awaits the final regulatory hurdle before the deal can close.
The farm-out, first announced on 30 December 2025, involves Antler Global selling a 40% interest in the EG-08 production sharing contract to Fuhai (Beijing) Energy, a subsidiary of privately owned Fuhai Holding.
Europa holds a 42.9% equity stake in Antler, which will retain operator status with a 40% working interest on completion, alongside Fuhai's 40% and a 20% carried interest for GEPetrol, Equatorial Guinea's national oil company.
Equatorial Guinea's Ministry for Mining and Hydrocarbons approved the deal on 29 May, leaving only Overseas Direct Investment approval from China's Shandong Provincial government outstanding.
Europa said it understands government approvers are now satisfied with the application and expects clearance within weeks, after which Fuhai will be formally added to the PSC and joint operating agreement.
"We remain confident that we will receive ODI approval in the coming weeks and continue to make good progress with our preparations for drilling," said Chief Executive William Holland.
The company targets drilling of the Barracuda-1 exploration well in early 2027.
