Drilling update

Europa Oil & Gas (Holdings) Plc

Voitinel-1 Well, Brodina Concession, Romania - Preliminary Test Results

The operator announces that Voitinel-1 has tested gas from the interval between
1,653.3 metres and 1,672.5 metres measured depth. The test was designed to
collect the data required to characterise the reservoir in order to assess
appraisal and development options. The well flowed at an initial rate of 85,000
cubic metres of dry gas per day (3.0 mscf/day) at a tubing head pressure at of
40 bar (595psi). The well is currently being further tested at a series of
different flow rates and pressures.

The preliminary results are encouraging. Voitinel-1 has tested 17.6 metres of
pay at satisfactory rates in a structure with 14 square kilometres of closure.
It would be speculative to assign resources at this stage but it is expected
that the scale of the discovery will be assessed and announced once the
pressure and flow test analysis has been completed over the next three weeks.

Interests in the Voitinel well are Aurelian Oil & Gas (Romania) SRL 33.75%,
S.N.G.N. Romgaz S.A. 37.50% and Europa Oil & Gas srl 28.75%.

Paul Barrett, Managing Director of Europa said “While Europa’s recent history 
of gas tests in Sarmatian sands have been disappointing, Voitinel seems more
promising as significant structural closure can be demonstrated. Early test 
results have exceeded expectations”
                                                     
Contact: Paul Barrett 07971 528754