Continental Focus, International Reach

Europa O&G Seeks Moroccan Adventure

Wednesday, November 21, 2018

Europa Oil & Gas plans to enter the Morocco’s oil and gas sector. To achieve this, it intends to rely on a $5 million placement raised from institutional investors. The AIM-listed company also plans to raise an additional $2 million to offer shares to shareholders.

“The funds raised will enable us to carry out the work program for a potential new license in Morocco, to filter and launch other new businesses,” said Hugh Mackay, CEO of Europa Oil & Gas.

For now, it is not clear whether negotiations have started with the Moroccan government or a third party.