Europa Oil & Gas (Holdings) plc announced that Antler Global Limited received approval from Equatorial Guinea’s Ministry for Mining and Hydrocarbons to complete a farm-out with Fuhai.
The deal still needs approval from China’s Shandong provincial government. Europa holds a 42.9% stake in Antler. After completion, Antler will retain a 40% working interest in the EG-08 PSC and remain operator.
Fuhai will hold 40%, and GEPetrol 20%. The Barracuda-1 well is expected to be drilled in early 2027, pending the remaining approval and rig availability.
CEO William Holland said the company is working with Fuhai to assemble the drilling team.
