Europa Oil & Gas Regulatory News (EOG)

5 Jun 2008 07:00

Operational Update

First Phase of 2008 Work Programme completed in East Midlands Oilfields

The Directors of Europa Oil & Gas (Holdings) plc are pleased to announce that the first phase of a programme of work aimed at increasing the Company's oil production volumes in the East Midlands, has been successfully completed.

A total of 8 metres of new perforations above the existing oil-producing zone were added in Crosby Warren-2Y. Similarly, at West Firsby, the no.6 well has received 10 metres of new perforations above the current production zones. Both wells are now back on pump.

There has been a production increase, but it will take time to bring the wells to stable production regimes and a further announcement will be made when this has been achieved. The next phase of this programme includes re-entering the currently shut-in well, West Firsby-4, for re-completion as a producer.

Paul Barrett, Managing Director of Europa, said `This work represents the first stage of maximizing oil production from these fields, a natural high priority for the Company in this high oil price regime. The programme will run for a further few months. The results of the earlier elements of the programme will be used when planning the major investment - the drilling of a new production well at West Firsby.'

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