It owns the UK-based AIM-listed oil and gas company Europe Oil & Gas The company confirmed that the main green light is still pending for the farm operation related to the block off the coast of Equatorial Guinea.
Follow a Farm Agreement (FOA) With Fuhai (Bejin) Energy in December 2025 for a 40% stake EG-08subject to Relevant regulatory approvalsEuropa Oil and Gas has announced that its associated company, Antler Global, has obtained the required approval from the Ministry of Mining and Hydrocarbons of Equatorial Guinea (MMHD) to complete an FOA.
However, completion of the transaction is subject to external direct investment (ODI) approval from the Shandong Provincial Government. Europe holds a 42.9% equity interest in Antler, which, upon completion of the FOA, will own a 40% working interest in the EG-08 PSC and remain as operator.
While Fuhai will own a 40% stake, the remaining 20% will be held by GEPetrol, Equatorial Guinea’s national oil company, which represents the state’s interest. The EG-08 block is estimated to contain 2.196 trillion cubic feet (tcf) (Pmean), with the base probability being Barracudawhich has 878 billion cubic feet (bcf) (Pmean).
William HollandEurope’s CEO commented: “I am pleased to receive approval from MThe Ministry and I would like to thank the MMHD team for their continued support as we move this project forward to drilling.
“We have been working hard, together with our partners in Fuhai, to assemble the drilling team necessary to drill the Barracuda-1 well at the earliest opportunity. Once we have ODI approval, we will then be able to secure the rig. I look forward to updating the market on our progress in due course.
The AIM listed player is expected to dig Barracuda-1 At the earliest opportunity, which is expected to be during early 2027.
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