Europa Oil & Gas, the AIM quoted West Africa, UK and Ireland focused oil and gas exploration, development and production company, has conditionally raised gross proceeds of approximately £3.5m, before expenses, through the conditional placing of 291,667,000 new Ordinary Shares of 1 pence each at an issue price of 1.2 pence per share.  

In addition, one warrant will be issued for every four Placing Shares with an exercise price of 2 pence and an expiry date 2 years after the date of the Placing Shares’ admission to AIM. 

The issue of the Placing Shares and the Placing Warrants is conditional, inter alia, on shareholder approval at a General Meeting of the Company which will take place on or around 27 February 2026. 

The proceeds will extend the Company’s cash runway to ensure that the Barracuda prospect is drilled and provide additional financial resources for the Company’s ongoing working capital needs.  

KeyFacts Energy: Europa Oil & Gas UK country profile