DNO North Sea UK Ltd. (DNO) terminated the sale agreement of frontier exploration license (FEL) 3/19, offshore Ireland, to Europa Oil & Gas PLC.
The sale was announced on June 1, 2020, but Europa has received notification from DNO that it wishes to exercise its rights to terminate the SPA effective Mar. 1, 2022 (OGJ Online, June 11, 2020). Accordingly, Europa confirms that it will not be acquiring this license.
FEL 3/19 covers 958 sq km in Slyne basin, 18 km east of the producing Corrib gas field in the Atlantic Ocean in 350 m of water. The gas play is comprised of Triassic sandstone. FEL 3/19 lies close to Europa’s FEL 4/19 which contains the 1.5 tcf Inishkea prospect.