Accordingly, Europa confirms that it will not, therefore, be acquiring this licence
Europa Oil & Gas announces termination of sale and purchase agreement on Irish licence FEL 3/19. (Credit: C Morrison from Pixabay)
Europa Oil & Gas (Holdings) plc, the UK, Ireland and Morocco focused oil and gas exploration, development and production company refers to the conditional acquisition of a 100% interest in Frontier Exploration Licence (“FEL”) 3/19 located in offshore Ireland, from DNO North Sea (U.K.) Limited (“DNO”), announced on 1st June 2020.
Europa has received notification from DNO that it wishes to exercise its rights to terminate the Sale and Purchase Agreement (SPA), with effect from 1st March 2022.
Accordingly, Europa confirms that it will not, therefore, be acquiring this licence.
Source: Company Press Release