Europa Oil & Gas Regulatory News (EOG)

Europa Oil & Gas (Holdings) plc / Index: AIM / Epic: EOG / Sector: Oil & Gas 19 June 2014 Europa Oil & Gas (Holdings) plc (`Europa' or `the Company') Favourable Holmwood Court of Appeal Decision Europa Oil & Gas (Holdings) plc, the AIM quoted oil and gas exploration anddevelopment company with a combination of producing and exploration assets inEurope, is pleased to announce that the Court of Appeal has today dismissed anappeal by the Leith Hill Action Group against the High Court judgment in theCompany's favour, in relation to the drilling of an exploratory well at theHolmwood prospect (`Holmwood') in the PEDL143 licence in the Weald Basin,Surrey. Europa holds a 40% interest in PEDL 143 alongside Egdon Resources(38.4%), Altwood Petroleum (1.6%), and Warwick Energy (20%). As a result of the Court of Appeal's ruling, the High Court judgment of 25 July2013, is upheld. Europa's appeal against Surrey County Council's refusal togrant planning permission to drill one exploratory borehole and undertake ashort term test for conventional hydrocarbons at the Holmwood prospect willtherefore be remitted to the Planning Inspectorate for redetermination. Thismay involve a further planning inquiry. Europa's CEO, Hugh Mackay said, "We are pleased with the Court of Appeal'sdecision which upholds last year's favourable High Court ruling. With meangross un-risked prospective resources of 5.6 million barrels of oil, asestimated in a CPR published in June 2012, and a one in three chance ofsuccess, we view Holmwood as being one of the best undrilled conventionalprospects onshore in the UK. Holmwood not only has the potential to materiallyadd to Europa's existing production from three UK fields, but also to generatesignificant tax receipts for the UK government over the life of a well. "We look forward to restating our case for a temporary exploratory well atHolmwood later this year, as we look to add to our upcoming onshore UK drillingprogramme which includes the 2.1mmboe Wressle prospect in July 2014 and the2.9mmboe Kiln Lane prospect on PEDL 181 in H2 2014. Along with the imminentdelivery of a prospect inventory arising from our own and Kosmos Energy'sinterpretation of the recently acquired 3-D seismic over our two 15% ownedoffshore Ireland blocks, there will be no shortage of high impact news flowover the coming months, as we look to unlock the value within our portfolio ofmultistage projects focused on Europe." * * ENDS * * For further information please visit www.europaoil.com or contact: Hugh Mackay Europa +44 (0) 20 7224 3770 Phil Greenhalgh Europa +44 (0) 20 7224 3770 Matt Goode finnCap Ltd +44 (0) 20 7220 0500 Henrik Persson finnCap Ltd +44 (0) 20 7220 0500 Frank Buhagiar St Brides Media and Finance Ltd +44 (0) 20 7236 1177 Lottie Brocklehurst St Brides Media and Finance Ltd +44 (0) 20 7236 1177 Notes Europa Oil & Gas (Holdings) plc has a diversified portfolio of multi-stagehydrocarbon assets that includes production, exploration and developmentinterests, in countries that are politically stable, have transparent licensingprocesses, and offer attractive terms. The Company produced 170 boepd in the UKduring the first half of the 2013/2014 financial year, generating sufficientrevenues to cover corporate overheads and some exploration expenditure. Itshighly prospective exploration projects include the Wressle and Kiln Laneprospects in the UK where wells are due to be drilled this year; 100% owned gasexploration prospect (416 bcf) and appraisal project (CPR 277 bcf) in onshoreFrance; and a joint venture with leading independent Kosmos to explore twolicences in offshore Ireland in which Europa had previously identified twoprospects with estimated gross mean un-risked indicative resources of 482million barrels oil and 1.6 billion barrels oil respectively.