Europa Oil and Gas is set to raise around £3.4m (€4.8m) via a share placing and open offer, with proceeds partially being earmarked to fund its activities in Irish waters.

PROVIDENCE Resources has farmed out an initial 25% stake in its Nemo “heavy oil” discovery in the Celtic Sea to London-based company Nautical, with an option for the British company to increase that share to 65% and assume operator status, by the end of next year.

Providence have announced that drilling at their Hook Head site is set to commence.

PROVIDENCE Resources has agreed a further farm-out agreement concerning part of its mining assets in the Celtic Sea off the south coast.