Europa Oil & Gas (Holdings) plc today reported the cancellation of its acquisition of the Frontier exploration licence (FEL), offshore Ireland.
NOTIFICATION
In June 2020, Europa announced the conditional purchase of a 100% interest in FEL 3/19 near the Corrib gas field from Norwegian company DNO North Sea (UK) Ltd.
“Europa has received notification from DNO that it wishes to exercise its rights to terminate the sale and purchase agreement, with effect from 1 March 2022,” added the company.
“Accordingly, Europa confirms that it will not, therefore, be acquiring this licence.”