Europa Oil & Gas Regulatory News (EOG)

25 Jul 2006 07:00

25th July 2006 - 7am Europa Oil & Gas (Holdings) Bilca-2 Well Test Europa Oil & Gas, the AIM-listed production and exploration company (AIM: EOG),is pleased to announce that the Bilca-2 well, which encountered gas whilstdrilling in early 2005 but was suspended without testing, has now beenperforated, tested and completed as a production well. A short clean-up test ona restricted choke has demonstrated commercial gas production.A clean-up rate of approximately 1 mmscfpd, achieved through an 8mm choke, iscomparable to the flow rates obtained on a similar choke on the Bilca-1 well,which went on to test at 6.3 mmscfpd (1,050 boepd) through a 20mm choke. Thewell has now been temporarily shut-in in preparation for commercial fieldproduction which is due to commence at the end of August.The Bilca project lies in the northern part of the Romanian Carpathians, aprolific oil and gas province. Europa and its partners(1) drilled Bilca-2 on thewestern extension of the Bilca seismic anomaly in early 2005 following thesuccess of Bilca-1, and the well was cased without being tested.Paul Barrett, Managing Director of Europa Oil & Gas, said:"We are pleased with these initial results for the Bilca-2 well. This willensure we have a full complement of production wells ready to supply thestart-up of the Bilca production facilities in a little over a month's time."---END---(1) Falcon Oil & Gas srl (a subsidiary of Aurelian Oil & Gas plc), Romgaz SA andMillennium IRL (a subsidiary of Ascent Resources plc).About Europa Oil & Gas (Holdings) plcEuropa Oil & Gas (Holdings) plc - AIM: EOG - focuses on the production andexploration of hydrocarbons in Europe and North Africa. It currently produces210 barrels of oil per day from UK onshore fields and 25 barrels of oilequivalent from the Ukraine. Production is expected to rise significantly afterits Romanian Bilca Gas Project comes on-stream later this year. Operating abalanced portfolio, Europa currently has field appraisal activity on projectsin the UK Southern Gas Basin and onshore Romania and exploration activity on afurther eight licences across the Europe - North Africa region. For moreinformation please visit www.europaoil.com.Further information:Paul Barrett, Managing Director, Europa O&G +33 5 63 33 18 97Jonathan Wright / Parimal Kumar, Seymour Pierce Ltd +44 20 7107 8000Jade Mamarbachi / Toby Hall, gth media relations +44 20 7153 8035EUROPA OIL & GAS (HOLDINGS) PLC