Investors have been told by Europa Oil & Gas Plc that the UK Environment Agency have indicated in a draft decision advertisement that it is inclined to award a bespoke environmental permit for drilling and testing for the Holmwood exploration well.
Now there will be a four week public consultation process, taking place between 15th February and 15th March.
Europa Oil & Gas plc is an AIM listed exploration and production company focused on Europe. Europa is the operator at Holmwood, holding a 20% stake in the project alongside a number of exploration partners – including UK Oil and Gas Investments Plc with 30%, Union Jack Oil PLC and Angus Energy Plc.
Hugh Mackay, Europa chief executive released a statement:
“We are pleased to have reached this important stage in the environmental permitting process.”
“Whilst we are still in the determination process and a final decision has not been made, it is nonetheless positive that the Environmental Agency is inclined to approve.”
“We look forward to the outcome of the consultation process and will keep shareholders updated.”