logo-loader

Europa Oil & Gas strikes $500,000 ‘revenue swap’ deal

Published: 02:59 21 May 2025 EDT

Europa Oil & Gas (Holdings) Plc - Europa Oil & Gas strikes $500,000 ‘revenue swap’ deal

Europa Oil & Gas (Holdings) Plc (AIM:EOG) has agreed a ‘revenue swap’ deal with a Canadian investment firm, giving the AIM-quoted small cap an upfront injection of $500,000.

In return, Europa will pay 4.5% of gross revenues from the Wressle 1 well to the investor.

"I am pleased that we have concluded this pre-payment of a small proportion of our Wressle production,” chief executive William Holland said.

“It brings forward a small part of our cash flows from the Wressle 1 well and is a financing method that is non-dilutive to our shareholders and will not impact our ability to secure project financing for the Wressle development, which will help unlock the substantial undeveloped resources and upside at Wressle."

Europa Oil & Gas Receives Approval for Wressle Well Expansion, Plans for...

Europa Oil & Gas CEO Will Holland joined Steve Darling from Proactive to share news the company has received planning consent from North Lincolnshire Council for further development of the Wressle well site. The plans include extending the site to drill two new wells and constructing gas...

on 16/9/24
OSZAR »