Issue of Equity

19 April 2010

                        Europa Oil & Gas (Holdings) Plc                        

                          ('Europa' or the 'Company')                          

                          Placing to raise £1,000,000                          

Europa Oil & Gas (Holdings) Plc, the oil and gas explorer and producer,
announces it has conditionally raised £1,000,000 before expenses, through an
institutional placing via its broker Astaire Securities Plc ("Astaire") of
7,142,857 new ordinary shares of nominal value of 1.0p each in the Company
(together the 'Placing Shares') at a price of 14p per ordinary share (the
'Placing').

The proceeds from the placing will be utilised for UK production enhancement
work and the forthcoming Voitinel test.

The Placing has been performed under existing share allotment authorities, and
the Placing Shares equate to 8.7% of the enlarged issued share capital of the
Company following completion of the Placing.

Application will be made for the Placing Shares to be admitted to trading on
AIM. Of the 7,142,857 new ordinary shares being issued, it is expected that
3,892,857 new ordinary shares will be admitted to trading on 26 April 2010, and
the remaining 3,250,000 will be admitted to trading on 4 May 2010. Completion
of the Placing is conditional, amongst other things, on such admission becoming
effective.

Following admission to trading on AIM of the Placing Shares, which will rank
pari passu in all respects with the existing ordinary shares in issue, Europa's
total issued and voting share capital will comprise 82,206,587 ordinary shares.
This figure may be used by shareholders as the denominator for the calculations
by which they will determine if they are required to notify their interest in,
or a change to their interest in, securities of the Company.

Under the placing agreement, Astaire has been issued options to subscribe for
357,142 ordinary shares, exercisable at 14p, and expiring on 26 April 2012.

Paul Barrett, Managing Director of Europa, said `This modest fundraising will
support our ongoing production and appraisal work in the UK and Romania. The
Directors took the prudent decision to bolster the balance sheet in order to
ensure the production work continues apace in a rising oil price environment.
In addition, work will continue on maturing the Company's Contingent resource
base. The future value of these activities is anticipated to far outweigh
today's minor dilution to shareholders.'

For further information, please contact:

Philip Greenhalgh / Paul Barrett, Europa Oil & Gas [phone]

Shane Gallwey / Toby Gibbs, Astaire Securities [phone]

Jerry Keen (Corporate Broking), Astaire Securities [phone]