Drilling Report

Europa Oil & Gas (Holdings) plc

7 February 2011

West Firsby-9 reaches TD

The Directors of Europa Oil & Gas (Holdings) plc are pleased to report that the
West Firsby-9 well has today reached a final TD of 7,633 ft MD (5,528ft TVD) in
the lower part of the West Firsby reservoir.

The well encountered a gross section of 1,973 ft measured section (371 ft
vertical thickness) of West Firsby reservoir. Drilling data indicates a net
sand penetration of 270ft of Zone 1 and 330ft of Zone 2. The well TD'd in Zone
3.

A full suite of logs will be acquired over the next 24 hours and used to design
the selective completion for producing the zones in the most efficient manner.
The well will then be completed with a beam pump.

Paul Barrett, Managing Director of Europa, said `This is a pleasing result, in
line with expectations and provides an excellent reservoir penetration. The
well will be engineered to incorporate selective zonal production with an
open-hole completion designed to avoid any cement-related formation damage.'

Further information:

Europa Oil & Gas

Paul Barrett / Phil Greenhalgh Tel: [phone]

finnCap

Sarah Wharry / Henrik Persson, Corporate Finance Tel: [phone]
Joanna Weaving, Corporate Broking Tel: [phone]