Onshore oil and gas explorer Europa Oil & Gas is “considering its options” after an appeal over plans to drill in Surrey was thrown out.
The AIM-listed firm had appealed against Surrey County Council’s decision not to grant permission to drill an exploratory borehole and carry out a short term test for hydrocarbons a licence in the Weald Basin.
Europa said it is “considering its options” with legal counsel and its partners in the licence – Egdon Resources 38.4%, Altwood Petroleum 1.6%, and Warwick Energy 20%.
Chief executive Hugh Mackay said: “We are obviously disappointed with the outcome of the appeal, particularly as it comes at a time when the need to develop the UK’s own energy resources and natural assets is more pressing than ever.”
He said the firm was looking to drill at least one well on the Wressle and Broughton prospects early next year.
“We rate each of these as having a one in three chance of increasing our current production of 200 barrels of oil equivalent per day,” he said.
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