Europa Oil & Gas chief executive William Holland takes Proactiv'es Stephen Gunnion through the company's financial and operation results for the year to July 31, 21023, which he said revealed significant progress.
Despite a lower oil price and a weaker pound, the company reported steady revenue from operating activities of $6.7 million, supported by increased production from its flagship asset, the Wressle oilfield.
Holland also discussed the company's offshore operations in Ireland and progress with the Serenity discovery in the North Sea.
At Serenity, he said the company is collaborating with partner i3 Energy to determine the best strategic direction for the prospect, with a variety of development scenarios being diligently considered including a development incorporating the Tain discovery that could be tied back to the Blake field or potentially developed with low-cost infrastructure as a standalone field.
Europa Oil & Gas is an AIM-listed exploration and production company focused on developing its balanced portfolio of assets in the North Sea and Atlantic Ireland, supported by revenue from onshore oil production in the UK.
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Europa Oil & Gas (Holdings) PLC
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