Europa Oil & Gas Regulatory News (EOG)

Europa Oil & Gas (Holdings) plc / Index: AIM / Epic: EOG / Sector: Oil & Gas 24 June 2013 Europa Oil & Gas (Holdings) plc (`Europa' or `the Company') Planning Application Granted to Drill Wressle-1 Well Onshore UK Europa Oil & Gas (Holdings) plc, the AIM listed oil and gas exploration anddevelopment company with a combination of producing and exploration assets inEurope, announces that Egdon Resources plc (`Egdon'), the operator of LicencePEDL 180, has received planning approval from North Lincolnshire Councilto drill an exploratory borehole on Licence PEDL 180 targeting the Wressleprospect in onshore UK in the second half of 2013. Europa has a 33.34% workinginterest in the block, alongside Celtique Energie Petroleum Ltd (33.33%), Egdon(25% interest and operator) and Union Jack Oil plc (8.33%). PEDL180 covers an area of 100 km2 on the western margin of the Humber Basin inthe East Midlands Petroleum Province. The Wressle-1 well will target the highlypetroliferous Brigg Broughton anticline trending WNW through PEDLs 180, 182 and241. Several oil discoveries have been made along this trend at Brigg,Broughton and Glanford and it also includes the Crosby Warren oil fieldoperated by Europa. The operator estimates Wressle holds mean gross unriskedprospective resources of 2.1 million barrels of oil. Drilling operations at Wressle are expected to commence in the second half of2013. The well is targeting multiple prospective sandstone reservoirs in astructurally favourable position near the crest of the Wressle structure withinthe Upper Carboniferous and will be drilled as a deviated well to a total depthof about 2,300 metres with a maximum offset of approximately 1,250 metres. Europa's CEO Hugh Mackay said: "Wressle-1 is the first of up to five wells tobe drilled across our asset base over the next eighteen months, each of whichhas the potential to transform our existing production profile and reserves.With mean gross un-risked prospective resources of 2. 1 mmbo, Wressle is smallcompared to our Mullen and Kiernan prospects in the South Porcupine Basin,offshore Ireland, and Berenx, the deep gas appraisal project in onshore France.Nevertheless, drilling success at Wressle would generate considerable near termcash flow that we would reinvest into proving up and monetising other highlyprospective exploration and appraisal projects in our portfolio. With this inmind, I look forward to providing further updates on our progress in duecourse." **ENDS** For further information please visit www.europaoil.com or contact: Hugh Mackay Europa +44 (0) 20 7224 3770Phil Greenhalgh Matt Goode finnCap Ltd (Nominated Adviser and +44 (0) 20 7220 0500Henrik Persson Broker) Frank Buhagiar St Brides Media and Finance Ltd +44 (0) 20 7236 1177Lottie Brocklehurst 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 currently producesapproximately 180 boepd in the UK, generating sufficient revenues to covercorporate overheads. Its highly prospective exploration projects include theWressle prospect in the UK where a well is due to be drilled in H2 2013; a 100%owned deep gas appraisal project with a CPR assigned contingent resource of277bcf in onshore France; and a joint venture with leading independent Kosmosto explore two licences in offshore Ireland in which Europa has identified twoprospects with estimated gross mean un-risked indicative resources of 482million barrels oil and 1.6 billion barrels oil respectively.