Europa extends EG-08 farm-out completion deadline to Oct. 30

London - Europa Oil & Gas (Holdings) plc, a company listed on the Alternative Investment Market (AIM), announced on October 29, 2026, that the completion deadline for the farm-out agreement with its associated company, Antler Global Limited, has been extended to October 30, 2026. This extension was agreed upon by all parties involved.

The binding farm-out agreement, which involves Antler Global Limited's 42.9% equity interest in Antler Global Limited, pertains to a 40% stake in the EG-08 production sharing contract, located offshore Equatorial Guinea. The agreement was finalized on May 29, 2026, and received approval from Equatorial Guinea’s Ministry for Mining and Hydrocarbons Department.

The transaction is currently awaiting Outbound Direct Investment approval from the Beijing Municipal Development and Reform Commission. This approval process is influenced by new Chinese regulations on outbound investments, introduced on July 1, 2026, which have impacted the timeline for granting this approval.

Upon the successful completion of the farm-out agreement, Antler Global Limited will retain a 40% working interest in the EG-08 production sharing contract, with Fuhai Energy Limited holding a 40% interest, and GEPetrol, Equatorial Guinea’s national oil company, holding the remaining 20%. It is anticipated that drilling operations will commence with the Barracuda-1 well during the first half of 2027.

Europa Oil & Gas CEO William Holland expressed optimism about the situation, stating that the delay has provided the company with additional time to prepare for the drilling process once the necessary approvals have been secured.