Europa Oil and Gas upbeat despite prices

British explorer Europa Oil and Gas has said the current oil price environment is not hampering its efforts to find development partners for assets it holds in Ireland and elsewhere.

The company is looking to farm-out 85% of two licences, in the South Porcupine Basin off the Co Kerry coast, previously shared with US firm Kosmos Energy, as well as a share of a new licensing option awarded in the recent first phase of the 2015 Atlantic Margin Licensing Round.

It has already attracted the attention of major and mid-cap exploration players with regard to the Irish portfolio, which has a total unrisked gross prospective resource estimate of three billion barrels of oil.