Drilling Report

Europa Oil & Gas (Holdings) plc

12 January 2011

Drilling Update - West Firsby-9

The Directors of Europa Oil & Gas (Holdings) plc are pleased to report the
progress on the drilling of the West Firsby-9 development well. This well has
now reached a depth of 2,855ft, has been cased and cemented and the rig is
preparing to drill ahead. The next section of the well will build hole angle to
enter the reservoir at 80 degrees in order to expose up to 2,000ft of gross
measured reservoir section to the wellbore.

Paul Barrett, Managing Director, said `This well is designed to penetrate all
three reservoir zones at a crestal location on the field and as such provide a
multi-zone producer which we hope will transform the production profile of the
field going forward. If all goes to plan, this well will start to impact field
production levels in February.'

For further information, please contact:

Europa Oil & Gas Paul Barrett 01235 553266

finnCap Sarah Wharry 0207 600 1658