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Hugh Mackay, General Manager of Europa Oil & Gas Holdings plc (LON: EOG), describes ongoing discussions with a major international oil company about a possible bankruptcy – interests in LO 16/20 (which hosts Inishkea), FEL 1/17 (Edgeworth) and FEL 3/13 (Beckett, Shaw and Wilde) – adding that he is confident that an agreement can be reached in the coming months.
According to Mr Mackay, such a transaction would fully cover Europa's costs for each area and also maintain a "material" interest in the badets.
Elsewhere, Europa is turning to Morocco for new opportunities.
We are currently in the final stages of discussions with the ONHYM, the National Office of Hydrocarbons and Mines, with a view to concluding an oil agreement.
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