European-focused oil and gas firm Europa says its UK onshore assets are producing in line with expectations.
The firm, which has three producing onshore assets in the East Midlands, says it is on course to achieve its full year 2014 production target of 165 barrels of oil equivalent per day (boepd).
Europa has a 100% working interest in the West Firsby and Crosby Warren fields and a 65% working interest in the Whisby 4 Well.
The firm has also appointed Colin Bousfield, who has more than 30 years’ experience in energy finance, as a non-executive director to its board.
Mr Bousfield started his career in banking with Barclays in 1975 and has held various senior positions with Barclays Capital, Bank of Scotland and the Royal Bank of Scotland.
More recently he held the post of chief financial officer at coal bed methane developer Composite Energy before it was sold to Dart Energy in 2011. His most recent position was chief financial officer at Hutton Energy between 2011 and 2012.
On appointment, Mr Bousfield will be granted options over 500,000 ordinary shares of 1p in the company.
Chief executive Hugh Mackay said: “Revenue from UK production covers all corporate overheads and helps fund exploration activity, specifically our share of drilling the Wressle prospect onshore UK in H1 2014.
“As a result, the vast majority of funds raised via the recent placing and open offer will be used to advance Europa’s existing portfolio of high impact projects onshore UK, offshore Ireland and onshore France, and also to pursue new ventures that match our investment credentials.”
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