Europa Oil and Gas firm talks up Irish assets as prices slip below $50

British exploration company Europa Oil and Gas has started the search for a partner company to help develop one of its “riskier” assets in Irish waters.

The company is sitting on an estimated four billion barrels of oil equivalent and 1.5 trillion cubic feet of gas across seven licences off the west coast.

A number of major and mid-cap explorers have already passed through Europa’s Irish ‘data room’, showing interest in its most developed licences in the Porcupine Basin.