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Gold Terra Resources drilling Intersects Con Shear and Gold in Hanging Wall at Con Mine Property

Gold Terra Resource Corp

Gold Terra Resources Chairman and CEO Gerald Panneton joined Steve Darling from Proactive to unveil exciting developments regarding the company's deep drill hole targeting the Campbell Shear beneath the Con Mine workings. The drill hole, initiated in early February, has yielded significant results, including the intersection of the Con Shear from 1366 to 1405 meters—a secondary shear structure—along with new gold mineralization discoveries. Panneton provided insights into the findings, highlighting the discovery of gold mineralization reaching up to 13.90 g/t Au over a span of 0.60 meters in the hanging wall granite host of the Con shear at multiple depths along the drill hole. Notably, the Con Shear intersection is characterized by intense silicification of mafic volcanic and intermediate intrusive rocks, with a prominent quartz vein present along the intermediate intrusive-mafic volcanic contact. Additionally, numerous quartz veins with pyrite mineralization were observed within the strongly silicified and sheared zone, indicative of significant mineralization potential. The intermittent yet robust shearing observed over the interval underscores the geological complexity and mineralization potential of the area. Building on these promising results, the 2024 deep drilling program aims to expand upon the initial Mineral Resource Estimate from September 2022, which identified 109,000 Indicated ounces of contained gold and 432,000 Inferred ounces of contained gold between surface and a depth of 400 meters below surface along a 2-kilometer corridor of the Campbell Shear. With these latest discoveries, Gold Terra Resources is poised to unlock further value and potential within its extensive exploration portfolio. The company's commitment to advancing its exploration initiatives and maximizing shareholder value is evident in its proactive approach to exploration and resource expansion. As Gold Terra Resources continues to explore and develop its projects, stakeholders can look forward to further updates and advancements in the company's quest to uncover the full potential of its mineral assets. Contact Details Proactive North America Proactive North America +1 604-688-8158 NA-editorial@proactiveinvestors.com

April 18, 2024 09:36 AM Eastern Daylight Time

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Lumina Gold CEO Discusses Impact of Rising Gold Prices on Project Valuations

Lumina Gold Corp

Lumina Gold CEO Marshall Koval joined Steve Darling from Proactive to shedding light on the significant impact of rising gold prices on the company's projects. The focal point of the conversation was Lumina's Cangrejos project in Ecuador, with a particular emphasis on the updates since the pre-feasibility study conducted in early 2023. During the pre-feasibility study, conducted when gold was priced at $1,650 per ounce and copper at $375 per pound, projections revealed a net present value (NPV) of $2.2 billion and an internal rate of return (IRR) of 17.2%. However, with current gold prices soaring to $2,350 per ounce and copper reaching $425 per pound, the NPV has skyrocketed to approximately $4.2 billion—an astounding 85% increase—while the IRR has surged to 27%. This remarkable upturn underscores the immense value inherent in Lumina Gold's projects, propelled by the favorable market conditions. Despite this positive development, Koval highlighted a notable disparity between the market valuation of gold equities and physical gold prices. Lumina Gold's share price has not mirrored the substantial increase in gold prices or the growth in project reserves, which have expanded by a remarkable 400% since 2017. This discrepancy underscores the potential for significant value appreciation in Lumina Gold's stock, presenting an enticing opportunity for investors. Koval also provided insights into ongoing developments, revealing that a feasibility study is currently underway and expected to conclude in May of 2025. Major fieldwork has been completed, and ongoing metallurgical testing is further enhancing the project's viability. Additionally, Koval highlighted the company's financial stability, bolstered by funding through the Wheaton stream, and anticipated the commencement of environmental assessments in the near future. As Lumina Gold continues to advance its projects amidst a backdrop of favorable market conditions, the company remains poised to capitalize on the burgeoning demand for gold and copper. Contact Details Proactive North America Proactive North America +1 604-688-8158 NA-editorial@proactiveinvestors.com

April 18, 2024 09:34 AM Eastern Daylight Time

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ESE Entertainment (OTC: ENTEF) Partner Metapro Launches $MPRO Cryptocurrency, Further Cementing ESE’s Position At The Cross-section Of Gaming And Cryptocurrency

Benzinga

By Meg Flippin, Benzinga ESE Entertainment Inc. (OTC: ENTEF), a leading global technology company that operates primarily in the gaming and esports industry providing crucial technology solutions to video game developers, publishers and brands, announced its partner Metapro launched a token sale Wednesday, April 17 – rolling out the $MPRO token at a starting price of $0.04. Metapro is a blockchain company that ESE partnered with in the spring of 2022, enabling the entertainment company to expand its technology services to blockchain and cryptocurrency companies. As part of the collaboration, ESE provides technology and marketing services to Metapro, helping the crypto company grow its ecosystem and build awareness among the video game and blockchain developer communities. The goal is to unite the gaming and cryptocurrency communities. “We have been actively working towards partnering with strategic companies that can drive growth. The opportunity in the metaverse and Web3 directly crosses into gaming, and we believe that ESE is uniquely positioned to provide technology and services to the metaverse,” Konrad Wasiela, CEO of ESE, said at the time. “We are excited to work with and scale new opportunities with Metapro.” Metapro’s Token Is Versatile Metapro operates an all-in-one cryptocurrency wallet aimed at gamers, developers and creators who want to manage their digital tokens across different blockchains. With the noncustodial wallet, customers can store and transact with several cryptocurrencies including Bitcoin, Ethereum and Solana – and now they can add $MPRO to their list. Metapro’s $MPRO token is designed to be versatile in the ecosystems, serving several roles including governance, transactions, rewards and acting as the currency for purchasing NODEs within the ecosystem. Eventually, the company anticipates that $MPRO will become an omnichannel token to increase accessibility and integrate with other blockchains. This will be made possible by the implementation of LayerZero. This development will enable $MPRO’s availability across multiple blockchain networks, enhancing its accessibility and utility. Digital token holders will have a say in ecosystem decisions, and the token will serve as a primary payment method for transactions within the Metapro ecosystem. Users can also earn rewards through NODE participation in which providers contribute computing resources to Metapro Protocol’s distributed database, earning $MPRO and collectively fostering the network’s growth and diversity. The coins also fund the ongoing development and expansion of the Metapro ecosystem. "2023 was a landmark year, and our work with ESE was pivotal in reaching these milestones,” Michał Bartczak, CEO of Metapro said earlier this year when announcing it is further expanding its partnership with ESE. “As we step into 2024, the cryptocurrency market has been growing fast and our focus is on developing and deploying new technologies. ESE has become a strategic partner with Metapro and we are excited to work together to enter new markets and execute on existing contracts and business globally.” Celebrating The Launch To kick off the launch of $MPRO, Metapro is running three community reward campaigns with more than $340,000 in prizes. They include a Daily Telegram raffle in which participants have a chance to win one of ten daily prizes of 1,000 $MPRO totaling 130,000 $MPRO, the $MPRO TGE Celebration contest with a prize pool of more than $315,000 and the Zealy Campaign, which features a prize pool of 375,000 $MPRO. The launch of the new digital token comes as interest in cryptocurrency is heating up again thanks to the launch of 11 spot Bitcoin ETFs the U.S. Securities and Exchange Commission approved in January. Many investors are betting the SEC will approve other digital token ETFs beyond Bitcoin. The uptick in interest in crypto should be welcome news to investors, many of whom saw their holdings plunge in value in 2022 amid the collapse of crypto exchanges including FTX. ESE is on the cutting edge in providing technology, support and services to its partners including Metapro. The launch of this token further cements the entertainment company’s position in the cryptocurrency space and puts it on the path to more potential growth. Featured photo by Shubham Dhage on Unsplash Benzinga is a leading financial media and data provider, known for delivering accurate, timely, and actionable financial information to empower investors and traders. This post contains sponsored content. This content is for informational purposes only and not intended to be investing advice. Contact Details Benzinga +1 877-440-9464 info@benzinga.com Company Website http://www.benzinga.com

April 18, 2024 09:15 AM Eastern Daylight Time

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QuantaSing (NASDAQ: QSG) Sets Its Sights On Global Expansion, Leverages Kelly’s Education Buy To Build Awareness In Hong Kong, U.S. And Beyond

QuantaSing

By Meg Flippin, Benzinga QuantaSing Group Ltd. (NASDAQ: QSG), one of the largest providers of online education for adults in China focusing on both the learning and personal interest markets, is in growth mode, gearing up to expand internationally and into new markets. The company has a strong reputation in China thanks to its use of upcoming and cutting-edge technology, including livestreaming and artificial intelligence, to provide seniors with easy-to-understand, affordable and accessible online courses. It’s capitalizing on the aging population in China, which is growing at such rates the World Bank designated it a “ super-aged society. ” Revenue and subscribers for the company were up double-digits in the most recent quarter, and QuantaSing wants to replicate that success in the U.S. It's a big market to go after – as of 2022, there were 58 million Americans aged 65 and older. By 2050, that’s projected to grow to 82 million, a 47% increase. Expanding Its Global Footprint Into New Markets To that end, QuantaSing has been busy in the States, spending two weeks traversing the country from New York to San Diego, meeting with investors and key stakeholders to tell its story, plot its expansion and set the groundwork to forge new partnerships. The meetings have proven fruitful with QuantaSing reporting it will announce further developments in the coming weeks and months. As part of its vision for the future, QuantaSing is not just targeting seniors with its global expansion plans. It’s also banking on Kelly’s Education ’s success. QuantaSing bought the Hong Kong-based online language education platform last fall, giving it a presence in the global online education market and the language learning sector. Kelly’s Education targets kids ages 3 to 15, a new demographic for QuantaSing. As part of the deal, QuantaSing launched Hong Kong Online Education (HKOE), which offers high-quality online English education for children with a sharp focus on delivering value. HKOE adheres firmly to the belief that top-tier education should be within reach for a broader audience of children, not just a privileged few. By implementing a reasonable pricing strategy, the company says it can reach a wider age group, broaden its course offerings and diversify its revenue. “We are excited to integrate Kelly’s Education and the new brand HKOE into our ecosystem. Their strong business model and seasoned team lays a solid foundation for our global market entry,” Peng Li, Chairman and Chief Executive Officer of QuantaSing, said at the time. “We plan to broaden our course offerings, including Chinese language learning, and diversify our revenue streams by appealing to a wider age group.” Networking And Building Relationships Stateside To build awareness in the U.S., Kelly’s Education CEO Ken Chau joined QuantaSing at the ASU + GSV Summit in San Diego, an annual conference bringing together the great minds from the pre-K to the gray education market and also contributing to the conversation around online learning, adult education and AI. Chau was part of a panel discussion, sharing his thoughts and insights on creating “Responsible AI for Kids.” Kelly’s Education uses AI to break down barriers, reduce stigma, develop confidence and enable children and young adults to live richer, more meaningful lives. The conference provided another opportunity for QuantaSing and Kelly’s Education executives to make contacts with industry players and investors. The company had a lot to share with the panel attendees. For starters Kelly’s Education recently inked two collaboration deals with Disney World of English and National Geographic Learning, aiming to provide children with a higher quality teaching environment and learning materials, further enhancing their learning outcomes and striving to build Kelly’s Education as the No.1 children’s English learning platform in Hong Kong. What’s more, the unit is gearing up to announce its first physical school in May. The school will combine online and traditional learning methods, serving as an interactive, innovative learning center offering various educational resources and high-quality teaching services, QuantaSing reports. The idea is to give students a more in-depth and engaging way to learn via interactive courses and guidance from teachers. Coinciding with the launch of the school is QuantaSing’s move to open its first office in Hong Kong in early-summer. It marks the company’s first presence outside of Mainland China and commences the company’s new chapter of growing internationally. From buying Kelly’s Education to networking in the U.S., QuantaSing is getting serious about expanding its business beyond China’s borders. Its soon-to-be-opened office in Hong Kong is expected to be a springboard for more to come. With the world getting older and students craving a new way of learning, QuantaSing is positioning itself to capitalize on that growth in its home country and beyond. Featured photo by Arthur Lambillotte on Unsplash. QuantaSing is a leading online service provider in China dedicated to improving people’s quality of life and well-being by providing lifelong personal learning and development opportunities. The Company is the largest service provider in China’s online adult learning market and China’s adult personal interest learning market in terms of revenue, according to a report by Frost & Sullivan based on data from 2022. By leveraging its proprietary tools and technology, QuantaSing offers easy-to-understand, affordable, and accessible online courses to adult learners, empowering users to pursue personal development. Leveraging its extensive experience in individual online learning services and its robust technology infrastructure, the Company has expanded its services to corporate clients, and diversified its operations into its e-commerce business and its AI and technology business. This post contains sponsored content. This content is for informational purposes only and is not intended to be investing advice. Contact Details Leah Guo ir@quantasing.com Company Website https://ir.quantasing.com/

April 18, 2024 09:00 AM Eastern Daylight Time

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A Liberian Gold Rush? Introducing Pasofino Gold's (TSX-V: VEIN) Dugbe Gold Project

Benzinga

By Faith Ashmore, Benzinga Pasofino Gold’s (TSX-V: VEIN) Dugbe Gold Project is in Liberia, which could be West Africa's last untapped gold exploration frontier. The Dugbe Gold Project is located in southern Liberia and is situated within a Birimian geological province. Pasofino Gold reports that the Birimian province is recognized for hosting the majority of the large and economic West African gold deposits, and the Dugbe Gold Project landholding consists of 2559 kms2 which remains largely unexplored. Further, the company is reportedly well situated in the country with the project area conveniently positioned only 70 kilometers away from the Greenville deep-water port. Through its subsidiary ARX Resources Limited, Pasofino currently owns 100% of the Dugbe Gold Project before the Government of Liberia's 10% carried interest. The project's mining rights and terms are secured by a mineral development agreement awarded by the Government of Liberia, lasting for 25 years and thereafter renewable. Although less than 10% of the project has been explored so far, Pasofino reports that the known discoveries are already promising. The Dugbe F and Tuzon areas hold a combined Measured and Indicated Resource of approximately 3.3 million ounces of gold. Multiple drill-ready targets also display abundant gold mineralization at the surface, according to Pasofino. The Bukon Jedeh area has a history of artisanal gold production spanning over 80 years and is believed to have yielded hundreds of thousands of ounces of gold. Exploration of this target by Pasofino has recently commenced. Another prospective target is the Tuzon Sackor trend, which exhibits surface gold mineralization up to a grade of 3 grams per tonne and has yet to be drilled. Pasofino is optimistic that these combined areas will lead to a further update on the company’s Resources and Reserves profile. The company believes the remaining 90% of the project area also holds immense potential for further discoveries. The project holds a large mineral reserve that supports an average annual gold production of approximately 173,000 ounces from open-pit mining. Within the mineral reserves, there is an estimated 2.76 million ounces of gold with a fully diluted mined head grade of 1.30 grams per tonne. These reserves are projected to sustain a 14-year Life of Mine (LOM). Additionally, the average annual production for the first five years is anticipated to be 200,000 ounces. The project remains scalable, according to the company. The project's strip ratio, comparing waste material to the amount of ore, is low at 4.2:1 and even lower during the initial five years of production. To support operations, a 5 million tonnes per annum (Mtpa) processing plant is planned to be built at a location conveniently situated between the two major deposits. In January 2024, Pasofino closed a non-brokered private placement of $2.3 million to insiders to fund the Dugbe Gold project which allowed the company to progress the development of the Project and the maximization of its value. Currently, a new drill program is underway to extend the Tuzon mineralization along with possible additional exploration targets previously identified. Additionally, a number of opportunities have been identified to optimize the Feasibility Study which was completed during COVID with challenges incurred during that time. Pasofino Gold is expanding its presence in the gold market at a critical time. Many anticipated that by the end of 2024, the gold rate could exceed $2,300 /oz, which would break the all-time high that was hit in March 2024. At the writing of this article in April 2024, this record has already been broken, with the gold price going above $2,400/oz. Some projections indicate that the price of gold will continue to climb in the period between 2024 and 2030 and in the most optimistic scenarios, experts believe the rate could even reach levels above $4,000 by 2030. Pasofino Gold’s Dugbe Gold project could be a critical supplier as gold prices continue to rise. Comparable project valuations within the African environment have had market cap values ranging from $200M to $600M, like Osino Twin Hills Project (TSX: OSI) and Tietto Minerals Abijar Project (ASX: TIE). At a current market cap of around $45 million, Pasofino may be one to watch. Featured photo by Peter Olexa on Unsplash. Benzinga is a leading financial media and data provider, known for delivering accurate, timely, and actionable financial information to empower investors and traders. This post contains sponsored content. This content is for informational purposes only and not intended to be investing advice. Contact Details Benzinga +1 877-440-9464 info@benzinga.com Company Website http://www.benzinga.com

April 18, 2024 08:50 AM Eastern Daylight Time

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Cordiant Digital Infrastructure targets future growth with innovative tech investments

Cordiant Digital Infrastructure Ltd

Cordiant Capital CEO and managing partner Benn Mikula provides insight into the evolving landscape of digital infrastructure, underlining the significant impact of social and technological changes. Through Cordiant Digital Infrastructure Ltd (LSE:CORD), Cordiant Capital invests in the essential components of the internet’s infrastructure, including fibre optic cabling, mobile towers, and data centres, which Mikula describes as the internet's "plumbing". These elements are integral to the transmission of data across an international network. Despite the complex and energy-intensive nature of this infrastructure, it facilitates global communication, exemplified by the potential routing of the interview through a data centre in New York. Mikula highlights several trends affecting digital infrastructure: the need for expansion due to network congestion and regulatory impacts, the installation of 5G technology requiring denser network coverage, and the surge in demand for advanced data centres driven by artificial intelligence. Cordiant Digital Infrastructure’s approach to investment is a "buy, build and grow" strategy, focusing on acquiring platforms with existing customers and expanding them, often pre-leased to reputable or governmental clients. The company successfully deployed its initial fund and plans to raise a second, targeting high-growth opportunities within digital infrastructure. Mikula also discusses innovative solutions to contemporary challenges, such as leveraging existing sites for new data centres to minimise environmental impact and investing in renewable energy sources. Looking forward, Cordiant Digital Infrastructure sees continued investment potential in towers, edge data, interconnect data centres, and backbone fibre networks, particularly in Europe and the United Kingdom, where the middle market offers attractive entry points and investment returns. Contact Details Proactive UK Proactive UK +44 20 7989 0813 UKEditorial@proactiveinvestors.com

April 18, 2024 08:48 AM Eastern Daylight Time

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Powerhouse Energy completes key milestone for Feedstock Testing Unit with new kiln on the way

Powerhouse Energy Group PLC

Powerhouse Energy Group PLC (AIM:PHE) CEO Paul Emmitt has confirmed the completion of a significant milestone with the manufacturing of a 2.5-tonne-a-day kiln for feedstock testing by AGICO in China. Emmitt detailed the company's progress despite previous delays caused by the liquidation of the previous manufacturer. The manufacturing process was verified by SGS, an independent verification company, which confirmed the quality of work and adherence to schedule. In addition to the kiln, the development of the company’s facility includes the installation of ventilation systems and utilities, orders for a gas cleanup system from a reputed German company. Although the equipment will arrive sequentially, complicating installation, an effective installation plan is being developed, Emmitt said. Emmitt also highlighted advancements in the Feedstock Testing Unit, designed to be flexible and handle various materials for R&D purposes. Orders for this system are expected soon. The CEO expressed optimism about the feedstock testing unit being operational by the fourth quarter of the year, emphasizing the importance of safety and order in the process. Investor days are planned to allow stakeholders to visit the facility once operational. Contact Details Proactive UK Ltd +44 20 7989 0813 uk@proactiveinvestors.com

April 18, 2024 08:45 AM Eastern Daylight Time

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Citius Pharmaceuticals (NASDAQ: CTXR) Advances Oncology Asset, Paving Way For Spin Out Of Advanced T-cell Lymphoma Treatment

Benzinga

By Meg Flippin, Benzinga Chemotherapy and radiation are proven ways to treat cancer, but for the patients, they usually mean untold suffering. Finding effective alternatives, especially for people with rare cancers, can seem impossible. For rare cancers, there often isn’t a lot of information to help develop treatments, enough animal or cell models to test, or tumor samples to research. As a result, rare cancers account for 25 % of all cancer deaths in the U.S. Immunotherapy To Kill Cancer Cells One alternative treatment that seems to be getting attention is immunotherapy. It’s a treatment that uses the patient’s immune system to seek and kill cancer cells. Immunotherapy treatments are designed to boost a patient’s immune system so the body can work harder to destroy cancer cells. It is proving effective with companies including Citius Pharmaceuticals Inc. (NASDAQ: CTXR) advancing oncology treatments through an innovative immuno-oncology approach. Citius’ lead asset aims to leverage the body's own defense mechanisms to destroy malignant tumors. The therapy targets the interleukin-2 receptors found on malignant T-cells regulatory T-cells (Tregs), opening the potential for new therapeutic approaches to the treatment of cutaneous T-cell lymphoma (CTCL). This innovation could be transformative for individuals with rare cancers like CTCL, potentially enhancing their quality of life significantly. Additionally, Citius highlights compelling market opportunities that the company says are poised for growth. Broadly, the global cancer therapy market is forecast to grow at a CAGR of 9.12% from now until 2027, while the immuno-oncology market is projected to grow at a CAGR of 22.94%, hitting $396.07 billion by 2034. LYMPHIR Poised to Make Inroads The company’s lead immunotherapy, LYMPHIR, is under review by the U.S. Food and Drug Administration (FDA) for the treatment of persistent or recurrent cutaneous T-cell lymphoma (CTCL), a rare form of non-Hodgkin lymphoma. In Japan, the formulation is approved and marketed for the treatment of CTCL and peripheral T-cell lymphoma (PTCL). Just last month, the U.S. FDA accepted the resubmission of a Biologics License Application (BLA) for LYMPHIR for the treatment of patients with relapsed or refractory CTCL after at least one prior systemic therapy. According to the company, the FDA has assigned a PDUFA goal date of August 13, 2024, the company said. "We believe there remains a critical unmet need for an additional viable treatment option for patients with relapsed or refractory CTCL as current therapies are non-curative,” said Leonard Mazur, Chairman and CEO of Citius. “We are grateful for the FDA's vital support for rare disease drug development as we work to expand treatment options for patients with cutaneous T-cell lymphoma. We look forward to the FDA's decision and the potential benefit LYMPHIR may provide patients with relapsed or refractory CTCL,” continued Mazur. Citius believes the market for LYMPHIR for CTCL will exceed $400 million and is particularly attractive because it is underserved by existing treatments. The Proof Is In The Results LYMPHIR is a recombinant engineered fusion protein that combines interleukin-2 and diphtheria toxin. The agent specifically binds to IL-2 receptors on the cell surface, causing diphtheria toxin fragments that have entered cells to inhibit protein synthesis. Notably, malignant T-cells and immunosuppressive regulatory T-cells share a common marker, the IL-2 receptor. Consequently, LYMPHIR targets both malignant T-cells and transiently eliminates Tregs, supporting the potential to unleash potent immune responses by the patient’s immune system against their tumors. In recent preclinical studies, denileukin diftitox has demonstrated the ability to deplete murine Tregs in-vivo and human Tregs ex vivo. In addition, the combination of denileukin diftitox with anti-PD1 showed improved tumor response and very significant improvement in survival in the combination groups relative to either therapy alone in a syngeneic mouse solid tumor model. Based on this data, two investigator-initiated trials are underway to evaluate the potential safety and efficacy of LYMPHIR in combination with Pembrolizumab (anti-PD1) in patients with recurrent or metastatic solid tumors and LYMPHIR given prior to lymphodepletion (LD) chemotherapy and CAR-T therapies for the treatment of relapsed/refractory B-cell lymphomas. The results of these preclinical trials will determine if the company will develop these treatments further. The Path To Commercialization In addition to inroads on the regularity front, the company is making strides to commercialize LYMPHIR. A spinout to form Citius Oncology is in the works. The company announced plans to form a standalone public oncology company a few months ago. In a recent press release, Citius mentioned the transaction will improve the company’s access to the public equity markets and help facilitate the commercialization of LYMPHIR. "We believe this transaction will allow us to unlock the value of LYMPHIR, and solidly position Citius Pharma to advance our diversified pipeline,” said Mazur at the time. “This transaction will enable Citius Oncology, with access to the broader capital markets, to better support the successful commercialization of LYMPHIR, if approved, and explore additional potential targeted oncology therapies. Our majority ownership position and shared services agreement ensures that the Citius Pharma management team will remain fully engaged with the development and commercialization efforts at Citius Oncology.” Featured photo by the National Cancer Institute on Unsplash. Benzinga is a leading financial media and data provider, known for delivering accurate, timely, and actionable financial information to empower investors and traders. This post contains sponsored content. This content is for informational purposes only and is not intended to be investing advice. Contact Details Benzinga +1 877-440-9464 info@benzinga.com Company Website http://www.benzinga.com

April 18, 2024 08:45 AM Eastern Daylight Time

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Europa Oil & Gas chief executive highlights entry to Equatorial Guinea in half-year results

Europa Oil & Gas (Holdings) PLC

Europa Oil & Gas (Holdings) PLC (AIM:EOG) chief executive William Holland takes Proactive's Stephen Gunnion through the company's first-half performance, highlighting its entry into Equatorial Guinea, marking its expansion into new territory with the strategic acquisition of a 42.9% interest in Antler Global, giving it a substantial stake in the EG-08 gas asset. Holland said the venture is considered a groundbreaking, drill-ready joint venture, with the potential for high success in gas exploration due to favourable geological findings similar to nearby successful fields. Further, Holland detailed the progress in assessing additional prospectivity of deeper horizons in Equatorial Guinea, with future announcements planned as the company seeks a partner for exploration drilling. Europa Oil & Gas also secured a two-year licence extension in offshore Ireland. The positive development followed extensive seismic reprocessing efforts that enhanced imaging and reduced risks associated with the project, particularly around the Inishkea West prospect. On UK operations, Holland touched on the ongoing monetization efforts for the Serenity oil discovery in the North Sea and discussed operational challenges and developments at the onshore UK sites, including the Wressle's recent downtime and upcoming drilling plans. Lastly, Holland noted the recent appointment of two new directors, enhancing the board's strategic and scientific expertise, reiterating the company's strong governance structure. Contact Details Proactive UK Ltd +44 20 7989 0813 uk@proactiveinvestors.com

April 18, 2024 08:42 AM Eastern Daylight Time

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