London-listed Europa Oil & Gas said on Monday that the Irish government had given its consent to transfer an 85% stake and the operatorship of its two licensing options LO 11/7 and LO 11/8 to Kosmos. Europa will retain a 15% interest in each licence.
Under the farm-in deal, which was first announced in mid-April, Kosmos will fully fund the costs of a 3D seismic programme on each licence, as well as pay 85% of costs that were incurred by Europa to date.
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