Europa Oil Gas Holdings — Cloughton Well – Planning Application Update

(LSE:EOG) Europa Oil & Gas (Holdings) plc announced that on 4 November 2026, the Local Planning Authority of North Yorkshire Council refused planning permission for the Cloughton gas appraisal well. Europa has appealed the planning refusal to the Secretary of State. The council's refusal contradicts the recommendation of its own planning officers. Thirteen independent expert reports supported approval of the Cloughton gas appraisal well. The refusal and the pending appeal have delayed the timeline for the Cloughton appraisal. This situation creates uncertainty around the near-term development value of the Cloughton project. The delay could materially affect project scheduling. The delay could also affect any related valuation of the project. Europa stated that it will update shareholders on the outcome of the appeal in due course. The Cloughton gas appraisal well remains subject to the outcome of the appeal process. The planning decision and appeal are significant factors for the project's future development. No financial figures, production volumes, or reserves were disclosed in this announcement. No named executives or quoted remarks appear in the source text. No counterparties other than the Local Planning Authority of North Yorkshire Council and the Secretary of State are mentioned. No specific license or permit numbers are provided in the announcement.

DL001 Licence extension & Update on EG-08 Farm-out

(LSE:EOG) Europa Oil & Gas (Holdings) plc has received a Deed of Variation from the North Sea Transition Authority extending the term of the DL001 licence through to 18 October 2032. The company provided an update on the binding Farm-out Agreement (FOA) signed by its associated company, Antler Global Limited, and Fuhai (Beijing) Energy Limited, a wholly owned subsidiary of Fuhai Group New Energy Holding Co., Ltd, to farm-out a 40% interest in the EG-08 production sharing contract (PSC) in offshore Equatorial Guinea. The Longstop Date for completion of the transaction has been extended by mutual agreement to 30 November 2026. The FOA has received approval from the Ministry for Mining and Hydrocarbons Department of Equatorial Guinea (MMHD) as of 29 May 2026, but remains subject to Outbound Direct Investment (ODI) approval from the Beijing Municipal Development and Reform Commission (MDRC). Europa reports that Chinese government approvers remain satisfied with the Fuhai ODI application and Fuhai expects to receive this approval in due course. New Chinese regulations on outbound investment, effective from 1 July 2026, have impacted the speed of approvals, causing ODI applications to take longer than expected. The MDRC has indicated that the Fuhai application continues to be processed and is expected to be approved in the near future. Europa holds a 42.9% equity interest in Antler, which, upon completion of the FOA, will hold a 40% working interest in the EG-08 PSC and remain as operator. Fuhai will hold 40% and GEPetrol (Guinea Equatorial de Petróleos), the national oil company of Equatorial Guinea, will hold the remaining 20% representing the State's interest. Despite the delay in ODI approval, Europa still expects to drill the Barracuda-1 well at the earliest opportunity, which is expected to be during the first half of 2027. The announcement states that the information constitutes inside information under the Market Abuse Regulation (EU) No. 596/2014 as retained in UK law. The company discloses this information in accordance with its obligations under Article 17 of the UK MAR.

Europa Oil Gas Holdings — Update on EG-08 Farm-out Agreement

(LSE:EOG) Europa Oil & Gas (Holdings) plc announced an update regarding the binding Farm-out Agreement (FOA) signed by its associated company, Antler Global Limited, and Fuhai (Beijing) Energy Limited, a wholly owned subsidiary of Fuhai Group New Energy Holding Co., Ltd, to farm-out a 40% interest in the EG-08 production sharing contract (PSC) in offshore Equatorial Guinea. The Longstop Date for completion of the transaction has been extended by mutual agreement to 30 October 2026. The FOA has received approval from the Ministry for Mining and Hydrocarbons Department of Equatorial Guinea (MMHD), as announced on 29 May 2026, but remains subject to Outbound Direct Investment (ODI) approval from the Beijing Municipal Development and Reform Commission (MDRC). Europa reports that Chinese government approvers remain satisfied with the Fuhai ODI application and Fuhai expects to receive this approval in due course. New Chinese regulations on outbound investment, effective from 1 July 2026, have impacted the speed of approvals, causing ODI applications to take longer than expected. The MDRC has indicated that the Fuhai application continues to be processed and is expected to be approved in the near future. Europa holds a 42.9% equity interest in Antler, which, upon completion of the FOA, will hold a 40% working interest in the EG-08 PSC and remain as operator. Fuhai will hold 40%, and the remaining 20% will be held by GEPetrol (Guinea Equatorial de Petróleos), the national oil company of Equatorial Guinea, representing the State's interest. Despite the delay in ODI approval, the company still expects to drill the Barracuda-1 well at the earliest opportunity, which is expected to be during the first half of 2027. William Holland, Chief Executive Officer of Europa, stated that while ODI approval is taking longer than anticipated, Fuhai's application continues to be processed and the company remains encouraged that approval is close. He added that the company has used this time to ensure full preparedness to commence drilling for Barracuda-1 as soon as ODI approval is secured.

Update on EG-08 Farm-out Agreement

(LSE:EOG) Europa Oil & Gas (Holdings) plc announced an update regarding the binding Farm-out Agreement signed by its associated company, Antler Global Limited, and Fuhai (Beijing) Energy Limited to farm-out a 40% interest in the EG-08 production sharing contract in offshore Equatorial Guinea. The Longstop Date for completion of the transaction has by mutual agreement been extended to 31 July 2026. The deal has received approval from the Ministry for Mining and Hydrocarbons Department of Equatorial Guinea as announced on 29 May 2026, and remains subject to Overseas Direct Investment approval from the Shandong Provincial government. Europa has a 42.9% equity interest in Antler, which on completion of the FOA will hold a 40% working interest in the EG-08 PSC, with 40% held by Fuhai and 20% by GEPetrol. The Company expects to drill the Barracuda-1 well at the earliest opportunity, which is expected to be during early 2027. The company reports that government approvers are now satisfied with the ODI application and expects to receive this approval in the coming weeks. The extension of the Longstop Date reflects the practical timing required to finalise the remaining approval and complete the legal procedures of the farm-out to Fuhai.

MMHD Approval of Farm-out to Fuhai

Europa Oil & Gas (Holdings) plc announced that its associated company, Antler Global Limited, has received approval from the Ministry for Mining and Hydrocarbons Department of Equatorial Guinea (MMHD) to complete the Farm-out Agreement (FOA) with Fuhai. The deal is still subject to Overseas Direct Investment (ODI) approval from the Shandong Provincial government. Upon completion, Antler will hold a 40% working interest in the EG-08 PSC and remain as operator, with Fuhai holding 40% and GEPetrol holding 20%. Europa holds a 42.9% equity interest in Antler. The Company expects to drill the Barracuda-1 well at the earliest opportunity, anticipated to be during early 2027. The announcement also notes that the information is considered inside information under UK MAR and is now in the public domain.

Cloughton Well - Planning Application Update

Europa Oil & Gas (Holdings) plc announced that the Local Planning Authority (LPA) has refused planning permission for the Cloughton gas appraisal well, despite a recommendation for approval from North Yorkshire Council's planning officers and support from 13 independent experts. The company expressed disappointment and strong disagreement with the decision. Europa is now assessing its options and is confident that planning permission will be approved on appeal. The announcement follows a previous update on 27 April 2026. This development is significant for investors as it impacts the company's exploration and development activities in the United Kingdom.

North Yorkshire Council Decision: Cloughton Well

Europa Oil & Gas (Holdings) plc announced that the North Yorkshire Council planning committee is minded not to approve the Company's plan for a well in Burniston on its Cloughton prospect, despite a positive recommendation from the Council's planning department. A final recommendation is pending a decision by the Secretary of State regarding the need for an environmental screening assessment, even though the Company has already voluntarily completed and submitted such an assessment. Europa intends to appeal the decision once the final recommendation is delivered and remains confident that planning permission will be approved on appeal. The Company cites the successful implementation of the Wressle development, which was approved on appeal, as evidence of its ability to operate without negatively impacting local amenity and to provide material benefit to the community.