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.