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Europa Oil & Gas Extends Deadline for Equatorial Guinea Farm-Out Deal with Fuhai Group New Energy Unit

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Europa Oil & Gas (EOG.L) said Friday the longstop date for a farm-out agreement on a 40% interest in the EG-08 production sharing contract in offshore Equatorial Guinea was extended to Aug. 31.

The deal was signed by the oil and gas explorer's associate Antler Global with Fuhai Group New Energy Holding subsidiary Fuhai (Beijing) Energy. The deal is still subject to outbound direct investment approval from the Beijing Municipal Development and Reform Commission.

Upon completion of the farm-out agreement, Antler, which is 42.9%-owned by Europa Oil & Gas, will hold a 40% working interest in the EG-08 contract and remain as operator.

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