Europa Oil & Gas Affiliate Farms Out 40% Interest in Offshore Guinea Contract

04:05 AM EST, 12/30/2025 (MT Newswires) -- An affiliate of Europa Oil & Gas (EOG.L) signed a farm-out agreement for a 40% interest in the EG-08 production sharing contract located offshore Equatorial Guinea. Antler Global signed the farm-out deal with Fuhai Group New Energy Holding subsidiary Fuhai (Beijing) Energy, according to a Tuesday filing. Fuhai will receive a 40% working interest in the contract in exchange for funding 95% of the costs of the Barracuda well, capped at $53 million. Europa Oil & Gas noted that any cost overruns beyond $53 million will be funded equally by Antler Global and Fuhai. The oil and gas explorer holds a 42.9% interest in Antler Global.