Europa Oil & Gas offers catalysts and potential on multiple fronts

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Europa Oil & Gas (Holdings) PLC (AIM: EOG) has launched a formal process for the farm-out of a stake in the Inezgane Offshore Permit, an 11,228 square kilometre area offshore Morocco.

The company describes it as a “high-impact exploration opportunity in a highly underexplored area” whilst highlighting that the acreage is on the same geological trend with major oil and gas discoveries along the west coast of Africa.

Europa has to date identified more than 2bn barrels of exploration potential across its ‘top 5’ ranked prospects.

“We are delighted to announce the launch of the Farmout initiative of the Inezgane Licence which represents not only a high-impact exploration opportunity for Europa but also sits comfortably within the company’s strategy of creating a balanced portfolio of complementary assets,” said chief executive Simon Oddie.

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