Europa Oil & Gas (Holdings) plc provided an update on the development of the Wressle Oil Field ('Wressle' or the 'Project') in North Lincolnshire which remains on course for first oil by the end of January 2021. Wressle lies on licences PEDL180 & 182 (the Licences') in which Europa holds a 30% working interest alongside Egdon Resources (30% and operator), and Union Jack Oil (40%). Further to the Company's announcement of 26 November 2020, the workover rig and associated services and equipment were successfully mobilised to site during the week commencing 4 January 2021. Operations to recomplete and reperforate the well have commenced and are expected to be completed to enable the Ashover Grit reservoir to be flowed prior to the end of January 2021 as previously advised. Wressle is expected to commence production from the Ashover Grit reservoir at a constrained gross rate of 500 barrels of oil per day ('bopd'). At this rate, Europa's existing UK onshore production would more than double to over 200bopd. With an estimated breakeven oil price of USD 17.6 per barrel, production at Wressle is expected to be very profitable at current oil prices of over USD 50 per barrel.