EGN - Europa Oil & Gas says 2023 results reveal significant progress supported by Wressle oilfield
(NewsDirect)
Europa Oil & Gas chief executiveWilliam Holland takes Proactiv'es Stephen Gunnion through thecompany'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 weakerpound, the company reported steady revenue from operating activitiesof $6.7 million, supported by increased production from its flagshipasset, the Wressle oilfield.
Holland also discussed the company's offshore operations inIreland and progress with the Serenity discovery in the North Sea.
At Serenity, he said the company iscollaborating with partner i3 Energy to determine the best strategicdirection for the prospect, with a variety of development scenariosbeing diligently considered including a development incorporating theTain discovery that could be tied back to the Blake field orpotentially developed with low-cost infrastructure as a standalonefield.
Europa Oil & Gas is an AIM-listed exploration andproduction company focused on developing its balanced portfolio ofassets in the North Sea and Atlantic Ireland, supported by revenuefrom onshore oil production in the UK.
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