New Licence Award

Europa Oil & Gas (Holdings) plc                        

                              UK 13th Round Award                              

The Directors of Europa Oil & Gas (Holdings) plc are pleased to announce the
award of a six year exploration licence in the UK onshore 13th Round, covering
a large area in North Lincolnshire. The licence will be operated by Europa,
with a 50% working interest, the remainder being held by Valhalla Oil & Gas
Limited.

The award lies in the Humber Basin which contains significant oil and gas
fields, such as Europa's Crosby Warren Oilfield and the large (90 billion cubic
feet) Saltfleetby Gasfield. However, historical exploration drilling density in
the Basin is remarkably low, with only one well drilled in the awarded licence
area to date.

The award covers an area of approximately 600km2 (equivalent to 3 UK North Sea
blocks) and contains 9 currently identified leads and prospects with a combined
mid-range prospective resource of 50 million barrels recoverable.

Paul Barrett, Managing Director of Europa, said `This is a significant addition
to our existing high quality exploration portfolio, representing a large
holding in a proven, yet almost unexplored, petroliferous basin. I am
especially delighted as this was a rare opportunity to acquire such a large
underexplored prospective area in the UK and the award perfectly complements
our existing East Midlands portfolio of mainly producing assets.'

For further information, please contact;

Paul Barrett Europa Oil & Gas (Holdings) plc 01235 553 266
Jonathan Wright Seymour Pierce 0207 107 8050

www.europaoil.com