Europa OIL & GAS (holdings) plc AIM:EOG
- Incorporated
- United Kingdom
- Chief executive
- William Holland
- Employees
- 11
- Reports in
- GBP
- Companies House
- 05217946
Read straight from the annual reports
1.6p at close on 5 Oct 2026 · 11 reported years, 2015–2025
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GBP millions, negatives in brackets. Per-share lines in pence, share counts in millions. later is what a following report restated the figure to; vs is a second reading that disagrees. The figure shown is the one the original filing printed, and both readings are kept. Click any figure: opens the report page it was read from, highlighted; shows how it was calculated. The share price above is drawn to the same columns: each close sits over the financial year it fell in.
11 years, at a glance
Dashed: Operating margin, in % on its own scale — read its shape, not its height against the bars.
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UK onshore production (Wressle, Crosby Warren, West Firsby)
Total revenue £3,908k for the 17 months to 31 Dec 2025, all UK-sourced. Site split: Wressle £2,412k, Crosby Warren £923k, West Firsby £346k, Whisby £15k, plus £212k recharges to Antler (not eliminated). Wressle averaged 281 bopd gross (84 bopd net to Europa).
page 76Realised oil price
Oil is sold at a small discount to Brent in US$. Realised average US$70.0/bbl in the period, with a high of US$79.6 (Aug 2024) and a low of US$61.4 (May 2025). Brent fell from about US$80 to US$61 over the 17 months.
page 96Oil price decline over the period
Brent fell from about US$80 at the start of the period to US$61 at the end; a 10% oil price move has a material effect on loss before tax per the sensitivity table. Directors note the Q1 2026 Iran-related price spike (US$90-120) as an upside that is uncertain.
page 26Producing-field impairment
£323k impairment of producing fields (FY2024: £189k), mainly capex on Crosby Warren and West Firsby, recorded in cost of sales. Gross profit is only £292k on £3,908k revenue.
page 84£170k credit: Profit on disposal of royalty interest (Whisby-4 royalty agreement terminated Dec 2024)
page 82Drilling of the Barracuda well on EG-08 is expected to commence in late 2026 or early 2027 following receipt of necessary approvals; Fuhai funds 95% of well costs, capped at US$53m, with Antler funding the remaining 5%.
page 10March 2026 equity raise: £4.1m gross in total, of which £3.5m placing with institutional investors and about £640k from an oversubscribed WRAP retail offer. Net proceeds quoted as £3.9m after fees. Proceeds are for Barracuda drilling and general working capital.
page 99Unmodified opinion from PKF Littlejohn LLP dated 26 May 2026 (Nicholas Joel, Senior Statutory Auditor). No material uncertainty related to going concern identified over 12 months from approval. Basis: cash flow forecast to 31 May 2027; base case flat US$85/bbl oil; sensitivity shows sufficient funds at a realised average of US$70/bbl; unrestricted cash £2.9m and no borrowings at May 2026. Key audit matters: carrying value of PP&E (Note 12); exploration and evaluation assets (Note 11); investments in subsidiaries and intercompany balances (Company, Notes 13b and 15); investment in joint venture (Note 13a). Materiality £150,000 (2% of total assets).
page 53- Funding and liquidity: the company relies on existing cash and production revenue; further equity or debt raises may be needed. The March 2026 raise (£4.1m gross) strengthened the balance sheet, but availability on the same terms is not assured.p.26
- Commodity price and FX: a fall in oil price could make projects uneconomic; oil fell from ~US$80 to US$61 over the period and the company has no hedges. Oil moved between US$90 and US$120 in the three months after the Iran conflict began.p.26
- Customer concentration: all oil production is sold to one UK refinery; stopping purchases would add transport costs.p.27
- Exploration, drilling and operational: high failure risk on Barracuda and other prospects; wells may be unproductive; operations may be delayed by rigs, weather, technical failures and labour disputes. Wressle-1 provides about 85% of production.p.27
Read from C000436-AR-2025-ch.
10 annual reports read, FY2016 to FY2025
Open a year to see what its report said. Every line in it carries the page it was read from.
Sources: Companies House (10)
FY2026Next report expected 3 Apr 2027