- Europa Oil & Gas said the Irish government had approved its application to convert a licencing options related to the company's flagship Inishkea prospect.

The Inishkea prospect had estimated gross mean un-risked prospective gas resources of 1.5 trillion cubic feet and been assigned a one-in-three chance of success.

The next steps for the licence, which hd a 15-year term commencing from 1 August, included a site survey in preparation for drilling an exploration well, subject to funding and regulatory consent.

An application to obtain a site survey on the Inishkea prospect was in process.

At 1:47pm: [LON:EOG] Europa Oil Gas Holdings PLC share price was +0.2p at 2.8p

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