- Europa Oil & Gas (EOG) has been awarded a new licensing option (LO) in the southern Porcupine Basin, offshore Ireland, as part of phase 1 of the 2015 Atlantic Ireland round.

This follows an announcement yesterday by the Minister of State at the Department of Communications, Energy and Natural Resources (DECNR), Joe McHugh.

The company says it understands it will shortly be issued with a formal letter of award from DECNR, at which point Europa will confirm its acceptance of the LO.

Once all the awards have been accepted Europa's LO will be allocated a number and DECNR will publish a map showing the awarded LOs and the relevant companies. Europa will have a 100% interest in the two year LO. Following the completion of a work programme, Europa has the option to apply to the Irish authorities for their consent to convert the licence into a FEL.

Licence awards in the 2015 Atlantic Ireland round are being made in two phases. The Company understands that phase 1 announced on 11 February 2016 was designed to accommodate applications in areas where firm seismic acquisition programmes formed part of Licensing Option work programmes with some surveys planned to be acquired in summer 2016. The offer of awards for 14 licensing options involves eight companies, Eni, Europa, ExxonMobil, Nexen, Scotia, Statoil and Woodside as operators, along with BP who will partner with Eni. Europa has made additional licence applications and awaits the outcome of the second and final phase of awards scheduled for mid-May with great interest.

Europa CEO Hugh Mackay said: "We are delighted with the award of this Licensing Option, particularly given the strength of the competing companies. This is an endorsement of the strong technical work that supported our bids. We are pleased that major and mid-cap oil companies are now taking acreage positions around our licences and we feel this is providing validation of our long held belief that the South Porcupine Basin is underexplored and has the potential to hold substantial hydrocarbon reserves.

"The success of this licensing round indicates that the Porcupine is no longer under appreciated. We have made other applications that remain live and look forward to the announcement of the second phase of awards during May."


Rockhopper Exploration (RKH) announces that Premier Oil (PMO) has served a notice to terminate the rig contract with Ocean Rig UDW with immediate effect.

The notice to terminate follows a number of operational issues with the Eirik Raude rig. As a result, the drilling of the Chatham well - the final well in current campaign - will now be deferred until the Sea Lion pre-development drilling campaign.

The postponement of the Chatham well has no impact on the planning or timetable for the Field Development Plan for the Sea Lion initial phase development.


Tlou Energy (TLOU) said Nathan Mitchell has resigned as non-executive chairman and that Martin McIver has been promoted to replace him with immediate effect. In addition, Colm Cloonan has been appointed as FD.


JKX Oil and Gas (JKX) has lifted the restriction notices it issued against Eclairs Group Ltd and Glengary Overseas Ltd. These notices restricted each of them, amongst other things, from attending or voting at a general meeting of the company.

The Restriction Notices were issued following enquiries by the previous board of directors pursuant to section 793 of the Companies Act 2006 in relation to the 27.47 per cent. of the issued share capital of JKX held by Eclairs and the 11.42 per cent of the issued share capital of JKX held by Glengary (through its nominee).


At 3:52pm:

[LON:AUR] Aurum Mining PLC share price was +0.1p at 0.95p

[LON:BOR] Borders Southern Petroleum PLC share price was -0.14p at 1.91p

[LON:CHAR] Chariot Oil Gas Ltd share price was +0.75p at 5.25p

[LON:ENQ] EnQuest Plc share price was +0.75p at 12.75p

[LON:EOG] Europa Oil Gas Holdings PLC share price was +0.5p at 3.38p

[LON:GKP] Gulf Keystone Petroleum share price was -0.12p at 14.63p

[LON:GPX] Gulfsands Petroleum PLC share price was 0p at 3.13p

[LON:INDI] Indus Gas Ltd share price was -0.12p at 109.38p

[LON:JKX] JKX Oil Gas PLC share price was +0.5p at 25.5p

[LON:PET] Petrel Resources PLC share price was 0p at 3.25p

[LON:PMO] Premier Oil PLC share price was +2.75p at 32.5p

[LON:RKH] Rockhopper Exploration PLC share price was -1.5p at 25.75p

[LON:RPT] Regal Petroleum PLC share price was +0.01p at 2.66p

[LON:TLOU] Tlou Energy Limited Ord Npv Di share price was 0p at 4.5p

[LON:XEL] Xcite Energy Ltd share price was +0.75p at 13.25p

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