Drilling Report

Europa Oil & Gas (Holdings) plc                        

             Radauti East-1 to be completed as water injector well             

The Radauti East-1 well has reached a TD of 926 metres, having failed to
encounter gas in the Sarmatian sands.  Subject to injection performance
testing, the well will be completed as a water disposal well for the nearby
Bilca-Fratauti development.

Whilst it is disappointing that the well did not encounter hydrocarbons, the
well penetrated reservoir sands that may be suitable for water disposal, as
required for the Bilca-Fratauti Development.  Fratauti-1, which has been
flowing modest amounts of formation water entrained with the gas since being
brought onstream, is currently being choked back because of the logistical
difficulties in water disposal.  Having a water disposal well could enable gas
production to be increased at Fratauti and allow the development to manage any
future water production.

Paul Barrett, Managing Director, said "As well as facilitating production
increases at Bilca-Fratauti, the results of this well also serve to calibrate
the Sarmatian seismic response and reduce risk in future exploration in the
play.  Following completion of the well, the rig will move on to drill
Arbore-1, which is unaffected by this result."

About Europa Oil & Gas (Holdings) plc

Europa Oil & Gas (Holdings) plc focuses on the production and exploration of
hydrocarbons in Europe and North Africa. Europa currently produces 600 barrels
of oil equivalent per day from its operations in the UK, Romania and the
Ukraine. Operating a balanced portfolio, Europa also has field appraisal and
exploration activity on a number of projects in the UK and Romania and a strong
new ventures programme across Europe and the North African region.

For more information please visit www.europaoil.com

For further information, contact:

Paul Barrett, Managing Director, Europa Oil & Gas [phone]

Jonathan Wright or Parimal Kumar, Seymour Pierce [phone]