DL001 Licence extension & Update on EG-08 Farm-out

Europa Oil & Gas (Holdings) plc, the AIM quoted West Africa, UK and Ireland focused oil and gas exploration, development and production company, is pleased to announce that is has received a Deed of Variation from the North Sea Transition Authority extending the term of the DL001 licence through to 18 October 2032.

The Company also provides the following update regarding the binding Farm-out Agreement ("FOA") signed by its associated company, Antler Global Limited ("Antler") and Fuhai (Beijing) Energy Limited ("Fuhai"), a wholly owned subsidiary company of the privately owned Fuhai Group New Energy Holding Co., Ltd ("Fuhai Holding") to farm-out a 40% interest in the EG-08 production sharing contract ("PSC") in offshore Equatorial Guinea.

Further to the announcement regarding the FOA to Fuhai on 30th September 2026, the Company reports that the Longstop Date for completion of the transaction has, by mutual agreement, been extended to 30th November 2026.

The FOA has received approval from the Ministry for Mining and Hydrocarbons Department of Equatorial Guinea ("MMHD"), as announced on 29 May 2026, and remains subject to Outbound Direct Investment ("ODI") approval from the Beijing Municipal Development and Reform Commission ("MDRC"). Europa continues to understand that the various Chinese government approvers remain satisfied with the Fuhai ODI application and that Fuhai expects to receive this approval in due course. The new Chinese regulations on outbound investment that came into force on 1st July 2026 have impacted the speed of the approvals and ODI applications are taking longer than expected. However, the MDRC have indicated that the Fuhai application continues to be processed and is expected to be approved in the near future.

Europa has a 42.9% equity interest in Antler which, on completion of the FOA, will hold a 40% working interest in the EG-08 PSC, and remain as operator, with 40% held by Fuhai and the remaining 20% held by GEPetrol (Guinea Equatorial de Petróleos), the national oil company of Equatorial Guinea, representing the State's interest.

Despite the delay in ODI approval the Company still expects to drill the Barracuda-1 well at the earliest opportunity, which is expected to be during the first half of 2027.