AIM-Listed Europa Eyes Irish Offshore Farm Down

摘要

Irish offshore explorer Europa Oil & Gas is in talks to farm out a slice of its 100%-operated Inishkea gas license LO 16/20 in the Slyne Basin in order to help fund a potential exploration well next year. CEO Hugh Mackay told International Oil Daily recently that the company had decided to relinquish the LO 16/21 license to focus on its relatively low-risk LO 16/20 Inishkea license, with over an estimated 2.5 trillion cubic feet of gas in place. The license is in shallow water near the Corrib gas field, where any future gas discoveries could potentially be tied back to Corrib infrastructure, providing a fairly fast route to monetization, he said.